U.S. stocks closed lower on Thursday as investors awaited a post-close speech from Fed Chair Janet Yellen. The Dow Jones Industrial Average declined 78.57 points, or 0.48%, to 16,201.32. The S&P 500 fell 6.52 points, or 0.34%, to 1,932.24. The Nasdaq Composite shed 18.27 points, or 0.38%, to 4,734.48.
The pace of new-home sales surged again in August, as demand reached the highest level in more than seven years. New U.S. homes sold at an annual rate of 552,000 in August, marking the highest level since February 2008.
Nike announced earnings and revenue that topped analyst expectations on Thursday. The company said its first quarter earnings came in at $1.34 per share on $8.41 billion in revenue.
Jabil Circuit Inc. (JBL) said Thursday it earned $87.7 million, or 45 cents a share, in the fiscal fourth quarter, reversing a loss of 13 cents a share a year ago. Revenue hit $4.7 billion in the quarter, up from $4.1 billion a year ago.
Germany’s transportation minister said on Thursday that software installed in millions of Volkswagen diesel cars might have been used to fool official emissions tests in Europe, not just the United States.
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