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August 13, 2012 05:32 PM

Monday Evening Business Brief

  • U.S. stocks fell today as evidence piled up that the global economic slowdown is dragging on Asia. The Dow Jones industrial average closed down almost 39 points, or 0.3 percent, at 13,169.43. The S&P 500 declined near 2 points, or 0.1 percent, to 1,404.11. The Nasdaq composite index rose almost 2 points, or 0.1 percent, to 3,022.52.
  • The decline in U.S. stock prices was mirrored by the price of oil. Benchmark crude fell 14 cents to finish at $92.73 per barrel in New York.
  • The price of gold is languishing, much like the global economy. Gold for December delivery fell $10.20 to finish Monday at $1,612.60 per ounce. That's about $10 less than it was on June 1 and nearly $190 less than the high for the year of $1,798.90 per ounce in late February.
  • Treasurys barely budged as investors considered more signs of an economic slowdown from Asia. The price of the 10-year Treasury note tacked on 6.2 cents for every $100 invested. Its yield remained unchanged from Friday at 1.66 percent.
  • Google stock rose on news it's making its largest round of layoffs ever. It's announced plans to cut about 4,000 jobs at Motorola Mobility just three months after buying the struggling cellphone pioneer. After the announcement, Google stock rose $18.01, or 2.8 percent, to close at $660.01.
  • Business
  • Economy/Stocks

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