Stocks Opened Lower, Oil Declined

U.S. stocks opened lower on Friday, after the Federal Reserve kept interest rates unchanged. The Dow Jones Industrial Average lately fell 135.24 points, or 0.52%, to 26,055.98. The S&P 500 lost 19.89 points, or 0.71%, to 2,786.94. The Nasdaq Composite dropped 85.77 points, or 1.14%, to 7,445.11.

U.S. futures on Friday looked to add to weekly losses, as output increases fueled concerns of surging supplies. West Texas Intermediate crude for December delivery was down 87 cents, or 1.4%, at $59.80 a barrel. January Brent crude fell 95 cents, or 1.3%, to reach $69.75 a barrel.

U.S. wholesale inflation in October posted the biggest increase in six years, driven by higher gas prices and rising costs for some goods such as machinery and equipment critical for businesses. The producer price index jumped 0.6% last month after barely any change since July, the government said Friday.

About the Author

has written 14758 stories on this site.

Copyright © 2012 Nine Stocks