Stocks Down Ahead of the Holiday Weekend
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iStockphoto/Thinkstock(NEW YORK) — U.S. Stocks called it a week, and the month, with losses on the Friday before Labor Day weekend.
The Dow Jones Industrial Average closed down 30.64 points, or 0.2 percent, at 14,810.31. While blue chips trading is down for the week and the month of August, the index is still up for the year.
The Nasdaq Composite gave up 30.43 points to close at 3,589.87. The S&P 500 closed off 5.20 points at 1,632.97.
The markets are closed on Monday for Labor Day.
Investors are still plagued by uncertainty over whether the Federal Reserve will start scaling back its support for the economy next month. There are also new worries about a possible U.S. military strike on Syria.
Americans are also not feeling as confident about the economy. The latest University of Michigan Consumer Sentiment index was at a six-year high in July, but it slipped lower in August. Even with the drop, it was still nearly eight points higher than a year ago.
Gold is having a summer revival. Prices touched $1,420 an ounce this week — a three and a half-month high. Escalating tensions in the Mideast and renewed demand for jewelry in china pushed prices higher.
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