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U.S. stocks end lower Friday

Dec. 14, 2012 at 6:08 PM   |   Comments

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NEW YORK, Dec. 14 (UPI) -- U.S. stock indexes finished lower Friday on concerns over the lack of a U.S. budget deal, analysts said.

The Dow Jones industrial average was down 35.71 points, 0.27 percent, to 13,135.01, at the close of trading.

The Standard and Poor's 500 was down 5.87 points, 0.41 percent, to 1,413.58. The tech-heavy Nasdaq composite was down 20.83 points, or 0.70 percent, to 2,971.33. Concern about slowing demand for Apple products pushed the technology giant's stock down 3.8 percent.

The U.S. Labor Department said the cost of living fell 0.3 percent in November, slightly higher than forecasts. The Federal Reserve said U.S. industrial production was up 1.1 percent last month, also higher than expected, factories resumed production following Hurricane Sandy.

On the New York Stock Exchange, 1,429 stocks advanced and 1,599 declined on a volume of 3.196 billion shares traded.

London's FTSE 100 was down 7.85 points, 0.13 percent, to 5,921.76.

Japan's Nikkei average closed down 5.17 points, 0.05 percent, to 9,737.56.

The benchmark 10-year U.S. Treasury note was up 8/32 to yield 1.708 percent.

The yen was trading at 83.51, down from Thursday's 83.65. The euro rose to $1.3162 from Thursday's $1.3077.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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