Stocks Ended Lower, Oil Prices Fell

U.S. stocks closed lower on Thursday after renewed worries about a U.S. – China trade deal, more evidence of a slowdown in manufacturing, and mixed corporate earnings. The Dow Jones Industrial Average fell 140.46 points, or 0.52%, to 27,046.23. The S&P 500 declined 9.21 points, or 0.30%, to 3,037.56. The Nasdaq Composite shed 11.62 points, or 0.14%, to 8,292.36.

Oil futures declined Thursday to settle at their lowest in over a week. West Texas Intermediate crude for December delivery fell 88 cents, or 1.6%, to settle at $54.18 a barrel, rising 0.2% for the month. December Brent crude declined by 38 cents, or 0.6%, to end at $60.23 a barrel and posted a gain of 0.9% for the month.

Chinese officials are expressing doubts about their ability to reach a comprehensive, long-term trade deal with the U.S. despite progress toward signing a “phase one” agreement, Bloomberg reported Thursday.

There was more evidence of a slowdown in manufacturing with the Chicago purchasing-managers index falling to 43.2 in October from 47.1 in September, below the 48.3 consensus expectation. Any reading below 50 indicates deteriorating conditions.

Pinterest (PINS) reported a net loss of $124.7 million, or 23 cents a share, on revenue of $279.7 million, up from $190.2 million a year ago. That represents revenue growth of roughly 47%. Pinterest reported earnings of a penny a share, up from an adjusted loss of 12 cents a share a year ago.

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