Stocks Ended Mostly Lower, Weighed by Energy Shares

U.S. stocks closed mostly lower on Monday, weighed down by a renewed selloff in energy shares. The Dow Jones Industrial Average fell 23.65 points, or 0.13%, to 17,623.05. The S&P 500 was down 3.97 points, or 0.19%, to 2,071.18. The Nasdaq Composite added 2.84 points, or 0.06%, to 5,0340.70.

New U.S. single-family home sales fell to near a one-year low in September after two straight months of gains, suggesting a temporary cooling in the market for new houses. The Commerce Department said on Monday sales dropped 11.5 percent to a seasonally adjusted annual rate of 468,000 units, the lowest level since November 2014.

Oil prices ended in the red on Monday with lingering concerns over a global supply glut and weakening demand. December West Texas Intermediate crude fell by 62 cents, or 1.4%, to settle at $43.98 a barrel on the New York Mercantile Exchange.

Harwood Feffer LLP is investigating potential claims against the board of directors of The Pep Boys – Manny, Moe & Jack(NYSE: PBY) concerning the proposed acquisition of the Company by Bridgestone Retail Operations, LLC. Under the terms of the offer, the Bridgestone would acquire Pep Boys in a transaction valued at approximately $835 million. Pursuant to the deal, Pep Boys stockholders would receive $15.00 in cash per share.

Wal-Mart Stores Inc applied Monday to U.S. regulators for permission to test drones for home delivery, curbside pickup and checking warehouse inventories, a sign it plans to go head-to-head with Amazon in using drones to fill and deliver online orders.

About the Author

has written 15682 stories on this site.

Write a Comment

Gravatars are small images that can show your personality. You can get your gravatar for free today!

You must be logged in to post a comment.

Copyright © 2012 Nine Stocks