The Joplin Globe, Joplin, MO

Business

September 20, 2012

US stocks follow global markets lower

NEW YORK — Weaker economic reports are tugging stocks slightly lower at the close of trading.

The railroad Norfolk Southern warned that it’s shipping fewer goods, and the government gave investors another reminder that the job market remains weak.

The Standard & Poor’s 500 index fell one point to close at 1,460 Thursday. The Nasdaq composite index dropped seven points to 3,176.

The Dow Jones industrial average gained 19 points to 13,597. Kraft Foods led the Dow up with a 1.9 percent surge.

The Labor Department reported that 382,000 people applied for unemployment benefits last week, more than economists had expected.

Three stocks fell for every one that rose on the New York Stock Exchange. Trading volume was lower than the recent average at 3.3 billion.

 

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