BUSINESS US stocks end slightly lower amid economic data

BUSINESS

US stocks end slightly lower amid economic data

Xinhua

08:39, June 12, 2019

NEW YORK, June 11 (Xinhua) -- US equities erased their earlier gains and closed slightly lower on Tuesday as Wall Street digested a slew of economic data.

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Traders on the floor of the New York Stock Exchange (File photo: AFP)

The Dow Jones Industrial Average fell 14.17 points, or 0.05 percent, to 26,048.51. The S&P 500 was down 1.01 points, or 0.03 percent, to 2,885.72. The Nasdaq Composite Index decreased 0.60 point, or 0.01 percent, to 7,822.57.

Of the 11 primary S&P 500 sectors, industrials and utilities struggled while consumer discretionary and communication services outperformed.

Shares of the US aircraft manufacturing giant United Technologies Corporation declined 3.96 percent at the close, the worst-performer in the Dow.

Meanwhile, shares of both Caterpillar and Cisco Systems climbed 1.22 percent, leading the gainers in the 30-stock index.

On the economic front, the seasonally adjusted producer price index for final demand edged up 0.1 percent in May, the US Bureau of Labor Statistics reported Tuesday. Final demand prices advanced 0.2 percent in April and 0.6 percent in March.

US small business optimism rose 1.5 points to 105.0 in May, the National Federation of Independent Business said Tuesday. Economists surveyed by Econoday had forecast a 102.0 reading.

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