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Wall Street Closing
Published in Saudi Press Agency on 14 - 08 - 2012

U.S. stocks finished mixed on Monday, as investors are debating whether the U.S. economy is weak enough to warrant additional stimulus from the Federal Reserve (Fed).
In world markets, European stocks ended lower, with the declines led by the DAX in Germany falling 0.5 percent. Asian markets also ended lower, with the declines led by the Shanghai Composite falling 1.5 percent.
Hopes for a third round of asset purchases by the Fed have stimulated market gains this year. But July's better-than-expected jobs report raised questions whether the central bank will need to take further action.
In U.S. company news, Google Incorporated is cutting about 4,000 jobs at its Motorola Mobility wireless-telephone business. The changes come as Motorola lost money in 14 of the last 16 quarters. Shares of Google were up on the news.
The U.S. dollar fell against the euro and rose against the yen. Light sweet crude oil for September delivery fell 14 cent to $92.73 a barrel on the New York Mercantile Exchange. Gold futures fell $10.20 to $1,612.60 an ounce.
The Dow Jones industrial average fell 38.52, or 0.3 percent, to 13,169.43. The broader Standard & Poor's 500 index fell 1.76, or 0.1 percent, to 1,404.11. The technology-heavy Nasdaq composite index rose 1.66, or 0.1 percent, to 3,022.52.


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