Stocks Ended Lower as Boeing, J&J Weighed on Dow

U.S. stocks ended near their lows of the session on Friday, with declines in Johnson & Johnson and Boeing Co. delivering the lion’s share of the pain for the Dow industrials. The Dow Jones Industrial Average fell 255.68 points, or 0.95%, to 26,770.20. The S&P 500 was down 11.75 point, or 0.39%, to 2,986.20. The Nasdaq Composite declined 67.31 points, or 0.83%, to 8,089.54.

Oil futures finished lower on Friday, as data showing slower Chinese economic growth fed worries about weaker demand for oil and a recent report revealed a fifth consecutive weekly rise in U.S. crude inventories. West Texas Intermediate crude for November delivery fell by 15 cents, or 0.3%, to settle at $53.78 a barrel and posted a 1.7% weekly decline. December Brent crude lost 49 cents, or 0.8%, at $59.42 a barrel, off 1.8% for the week.

Shares of Boeing Co. on Friday were on pace for their worst close in nearly two months after a report said that internal messages suggest the company misled federal aviation authorities about the safety of the 737 Max jet.

Shares of Johnson & Johnson suffered another blow Friday related to product safety, as the consumer-products giant’s recall of some baby powder — after tests revealed traces of asbestos — comes despite the company’s repeated assurances of its safety.

About the Author

has written 11887 stories on this site.

Copyright © 2012 Nine Stocks