Stocks Open Lower as Japan Reading Weighs

U.S. stocks opened lower on Monday, extending last week’s decline after Japan reported weaker-than-expected second-quarter growth. The Dow Jones Industrial Average fell 33.16 points, or 0.21%, to 15,392.35. The S&P 500 retreated 4.04 points, or 0.24%, to 1,687.38, while the Nasdaq Composite pulled back 0.65 points, or 0.02%, to 3,659.46.

Japan’s economic growth slowed more than expected in the second quarter, offering ammunition to those seeking to temper a planned sales-tax increase even as government debt has risen past 1,000 trillion yen $10.4 trillion (£6.71 trillion). The world’s third-largest economy grew by an annualised 2.6 percent in April-June, government data showed on Monday

Canadian smartphone maker Blackberry said on Monday it had set up a committee to explore strategic alternatives that could include joint ventures, partnerships or a sale of the company.

Gold futures pushed higher on Monday. Gold for December delivery rose $14, or 1%, to $1,326.20 an ounce in electronic trade, outstripping last week’s gain of $1.70 an ounce.

About the Author

has written 14775 stories on this site.

Copyright © 2012 Nine Stocks