Saturday, 31 December 2016

Wall Street ends lower on Friday; Nasdaq Composite drops 0.9%

The S&P 500 posted 1 new 52-week high and 1 new low; the Nasdaq Composite recorded 58 new highs and 48 new lows.

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Wall Street closed lower on Friday led down by Apple and other big tech stocks, but major indexes still posted solid gains in 2016. The S&P 500 declined for a third consecutive session.
 
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The Dow Jones Industrial Average fell 57.18 points, or 0.29% to 19,762.6, the S&P 500 lost 10.43 points, or 0.46% to 2,238.83 and the Nasdaq Composite dropped 48.97 points, or 0.9% to 5,383.12.

Apple shares fell 0.8% after a report that the company will trim iPhone production. Shares of Apple suppliers such as Cirrus Logic and Qualcomm also declined.

OPKO Health shares fell 18.8% after the company said its experimental drug for growth hormone deficiency in adults failed to provide a statistically significant benefit in a late-stage study.

The S&P 500 posted 1 new 52-week high and 1 new low; the Nasdaq Composite recorded 58 new highs and 48 new lows.

Cabela's dropped 4.7%, after the company said in its regulatory filing Friday that the Federal Trade Commission requested additional information about its merger with Bass Pro Shops.

U.S markets will be closed on Monday, January 2.




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