Friday, November 27, 2015

Wall St Unchanged; Disney, retailers are down

Wall St, business, finance, icome

The Dow Jones industrial average are down 14.9 points (0.08%), to 17,798.49, the S&P 500 gained 1.24 points, or 0.06%, to 2,090.11 and the Nasdaq Composite added 11.38 points, or 0.22%, to 5,127.53.

United States Stock indexes closed and there are minimal changes in light trading on Friday. Consumer stocks fell as investors worried about early reports on the holiday shopping season, and Disney’s subscriber losses weighed on the market.

US stock markets closed 3 hours earlier after the Thanksgiving holiday on Thursday. Most traders are in day off for the holidays.

Trading volume was a little light with 2.79 billion shares changing hands on US exchanges, compared with the 7 billion average for the previous seven sessions.

Because of the drop of Walt Disney shares it cost close to 24 points off the Dow. Walt Disney shares fell $3.54, or 3%, to $115.13 after it reported this week that subscribers at ESPN, of which it is a majority owner, fell by 3 million in the fiscal year ended October 3.

The S&P’s energy index lost 0.7%, more than any other sector, after oil producers and other energy companies fell along with the price of crude oil. Chevron lost 50 cents, or 0.6%, to end at $90.37.

U.S. crude-oil futures slipped 3.1% to settle at $41.71 a barrel.

Shares of several retailers fell as investors braced for data on the key holiday-shopping period. Wal-Mart Stores fell 35 cents, or 0.6%, to 59.89. Urban Outfitters fell 66 cents, or 2.7%, to 23.65, while Gap lost 70 cents, or 2.5%, to 27.36.

J.P. Morgan Chase rose 31 cents, or 0.5%, to 67.17, while Goldman Sachs Group gained 1.32, or 0.7%, to 190.47.

Gold fell 1.3% to $1,056.20 a troy ounce.

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