Stocks Ended in the Red

U.S. stocks ended Thursday’s session with modest losses, as investors moved out of riskier assets and into gold and U.S. Treasurys. The Dow Jones Industrial Average dropped 75.07 points, or 0.46%, to 16,368.27. The S&P 500 fell 10.67 points, or 0.56%, to 1,909.57. The Nasdaq Composite fell 20.08 points, or 0.46%, to 4,334.97.

Zynga Inc. (ZNGA) on Thursday reported a second-quarter loss of $62.5 million, or 7 cents a share, compared with a loss of $15.8 million, or 2 cents a share, for the year-earlier period. Revenue fell to $153.2 million from $230.7 million.

News Corp. (NWSA) said Thursday that fourth-quarter net income was $12 million, or 2 cents a share. A year ago, the company lost $1.12 billion, or $1.94 a share. Revenue for the media giant was $2.19 billion against last year’s $2.26 billion.

A quarter of U.S. families feel they are under economic stress due to the aftershock of the Great
Recession and most do not expect their wages to increase in the next year, according to a new Federal Reserve study released on Thursday.

U.S. consumer credit growth increased sharply in June, a possible sign spending could ramp up in
coming months. Consumers increased their debt in June by a seasonally adjusted $17.3 billion, down only slightly from a $19.6 billion gain in the prior month, the Federal Reserve said Thursday.

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