Stocks Ended Sharply Lower, Election Eyed

U.S. stocks ended lower on Friday, after an initial cheer for better-than-expected U.S. employment data gave way to nervousness ahead of the U.S. presidential election next week. The Dow Jones Industrial Average dropped 139.46 points, or 1.05%, to 13,093.16. The S&P 500 Index fell 13.39 points, or 0.94% to 1,414.20.  For the week, the Dow industrials turned down 0.1% and the S&P 500 index pared gains to 0.2%. The Nasdaq Composite lost 37.93 points, or 1.26%, to 2,982.13. It’s off 0.2% from a week ago.

Oil futures fell nearly 3% Friday to suffer a third-straight weekly loss, as the U.S. dollar strengthened in the wake of better-than-expected U.S. employment data, and as the market fretted over energy demand in the aftermath of superstorm Sandy. Crude oil for December delivery fell $2.23, or 2.6%, to settle at $84.86 a barrel on the New York Mercantile Exchange.  

Wall Street’s industry-funded regulator has released guidance to clarify certain compliance and regulatory issues for Wall Street brokerages in the aftermath of Hurricane Sandy.

Two weeks before a high-stakes trial pitting Google’s Motorola Mobility unit against Microsoft, Google made what has become a common request for a technology company fighting for billions of dollars: A public court proceeding, conducted largely in secret.






Leave a Reply