Thursday, September 24, 2015

Wall Street Down Slightly Amid Factory data Growth Worries

Wall Street, economy, stock, finance

U.S. stocks down a bit, it was pulled down by losses in materials and energy shares because of weak U.S. and China factory data. S&P 500 was trading higher slightly when Chinese President Xi Jinping said that China was capable of maintaining a relatively high growth rate for a long time.

The S&P 500 is down 2.8 percent since Thursday, after the Federal Reserve hold interest rates near zero.

According to reports the U.S. manufacturing growth are at a 2-year low in September, while Chinese factory activity shrank to a 6-1/2 year low in the month.

News report about Boeing Co (BA.N) bagging orders and commitments from China for aircraft valued at about $38 billion at list prices, didn't save their shares it fell 1.7% to $131.67.

The S&P materials index .SPLRCM was down by 2.1%, led the decline for the S&P 500 for a 2nd day, followed by the energy index .SPNY, which was down 1.4%.

U.S. crude oil futures close at negative 4.1%, while shares of Chevron (CVX.N) were at negative 1.5% at $76.12.

The Dow Jones industrial average .DJI fell 50.58 points, or 0.31%, to 16,279.89, the S&P 500 .SPX lost 3.98 points, or 0.2%, to 1,938.76 and the Nasdaq Composite .IXIC dropped 3.98 points, or 0.08%, to 4,752.74.