Markets slip on dour durable goods data

Aug. 26, 2013 at 4:35 PM

NEW YORK, Aug. 26 (UPI) -- U.S. stocks gave up ground Monday as the Commerce Department said durable goods orders fell sharply in July.

Durable goods orders dropped 7.3 percent in the month, more than twice what economists had forecast.

After two consecutive upbeat sessions, the Dow Jones industrial average gave up 64.05 points or 0.43 percent to 14,946.46. The Standard & Poor's 500 closed at 1,656.78, off 6.72 points or 0.4 percent.

The Nasdaq exchange shed 0.22 points or 0.01 percent to 3,657.57.

On the New York Stock Exchange, 1,261 stocks advanced and 1,800 declined on a volume of 2.4 billion shares traded.

The Nikkei 225 index in Japan dropped 0.18 percent or 24.27 points to 13,636.28.

The 10-year benchmark treasury bond was up 20/32 to yield 2.816 percent.

The euro rose to $1.3371 while the dollar fell to 98.41 yen.

In after hours trading, crude oil on the New York Mercantile Exchange shed 15 cents to settle at $106.27 per barrel.

On the Comex division, gold added $6.10 to reach $1,401.90 per troy ounce. Silver gained 54.4 cents to reach $24.325 per ounce.

On the Chicago Board of Trade, December delivery corn added 31 1/4 cents to $5.01 1/4 per bushel. Soybeans for November added 61 cents to $13.89. Wheat for December gained 21 1/4 cents to reach $6.67 1/4.

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