LONDON: U.S. stocks ended Thursday’s choppy session lower as losses among energy and industrials companies weighed on broader indexes.
James M. Meyer, chief investment officer at Tower Bridge Advisors, said that weakness in transportation stocks is weighing on markets.
The Dow Transportation index DJT, -0.85% dropped 0.9% to 8,239.58, and is down more than 10% from its peak reached on November 28. The transport index is watched by investors because it is often viewed as a barometer of the health of the overall economy.
Main indexes closed lower for the second straight session. The S&P 500 SPX, -0.30% fell 6.27 points, or 0.3%, to 2,102.31, with eight of its 10 main sectors finishing lower.
The Dow Jones Industrial Average DJIA, -0.42% fell 75.37 points, or 0.4%, to 17,890.360, while the Nasdaq Composite COMP, -0.20% ended the day down 10.22 points, or 0.2% at 5,112.19.
“The S&P 500 has been rangebound and failed to break out to new highs so far. But we are probably not going to see much movement either way until next week when we get jobs numbers,” Meyer said.
