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U.S. stocks end mixed amid global slump

Published: 21/09/2009 05:00

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U.S. stocks ended mixed on Monday, as investors around world took a break from recent rally.

Traders work on the floor of the New York Stock Exchange, September 21, 2009. U.S. stocks fell on Monday as a resurgent U.S. dollar took a toll on commodity prices and investors paused to gauge if the outlook for corporate profits justified the market’s recent run to 11-month highs.(Xinhua/Reuters Photo)

Energy and basic material shares were pressured after commodities prices, including crude oil and gold, slid on strengthening dollar. Oil prices dropped 3.2 percent to settle below 70 U.S. dollars a barrel on the New York Mercantile Exchange.

Fertilizer shares also led the market lower, after Potash Corp., the largest fertilizer maker by capacity, cut its full-year profit forecast amid a slump in demand.

On economic news, the Conference Board said its index of leading economic indicators rose 0.6 percent in August. The reading, which is meant to project economic activity in the next three to six months, slightly trailed estimates.

Meanwhile, investors also took the potential threat of inflation into consideration. They are waiting to see what The Federal Reserve will say this week during its two-day meeting, which begins Tuesday.

The Dow Jones fell 41.34 to 9,778.86. Broader indexes went mixed. The Standard & Poor’s 500 index lost 3.64 to 1,064.66 while the Nasdaq added 5.18 to 2,138.04.

VietNamNet/Xinhuanet

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