Mixed Close in US Stock Market Amid Weak Consumer Indicators (Comprehensive)

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] The New York stock market closed mixed amid concerns over a decline in consumer indicators.

On the 25th (local time), the Dow Jones Industrial Average fell 60.02 points (0.21%) from the previous session to close at 28,248.44, the S&P 500 rose 12.34 points (0.36%) to 3,443.62, and the Nasdaq rose 86.75 points (0.76%) to close at 11,466.47.

While the S&P 500 and Nasdaq continued their streak of record highs, the Dow Jones index was unable to avoid a decline.

The market was concerned about the poor U.S. consumer indicators that day. The Conference Board announced that the August Consumer Confidence Index was 84.8, a sharp drop from July's 91.7. It also fell significantly short of the Dow Jones consensus estimate of 92.5.

In particular, this month's index was worse than in April and May, when the COVID-19 crisis was at its peak, marking the lowest level in six years.

The resurgence of COVID-19 and delays in passing additional economic stimulus bills are believed to be negatively affecting consumer sentiment, which accounts for two-thirds of the U.S. economy.

The Dow's weakness is attributed to changes in the index's component stocks. Due to the changes, Salesforce, Amgen, and Honeywell will be included in the Dow starting at the end of this month, while ExxonMobil, Pfizer, and Raytheon Technologies will be removed. On the day, ExxonMobil fell 3.2%, Pfizer 1.1%, and Raytheon Technologies 1.5%, while Salesforce rose 3.6%, Amgen 5.4%, and Honeywell 3.2%.

West Texas Intermediate (WTI) crude oil closed up 1.7% ($0.73) at $43.35 per barrel. Gold closed down 0.8% ($16.10) at $1,923.10 per ounce.

This content was produced with the assistance of AI translation services.