Stocks traded lower today as further losses in oil prices sparked fears of a global economic slowdown. Oil prices are trading more than 20% below their 52 week high and broke below $60 for the first time since March. Disappointing data out of China also dampened sentiment after the country’s top auto industry association said sales in China fell 11.7% last month, marking the 4th straight monthly decline. The major indices did post solid weekly gains despite todays losses. Here’s a look at how we finished the day on Wall Street:
DOW -201 at 25989
SP500 -25 at 1781
NASDAQ -123 at 7406
10 Year Treasury closed -4 basis points to yield 3.19%
Oil prices closed -.74 at 59.93 a barrel
Gold prices closed -15.70 at 1209.40 an ounce
In the days’ stock news:
- Disney reported better than expected earnings after the bell yesterday and closed nearly 2% higher at 118.00.
- Yelp shares plunged more than 26% after releasing its latest quarterly results that disappointed investors. YELP closed -11.58 at 31.92.