Saudi ministers convey leadership's condolences on President Raisi's death to Iranian officials in Tehran    142 women soldiers graduated    Number of train passengers surges 27% to over 8 million in 1Q of 2024    Lulu Hypermarket opens in Khamis Mushait    'No Hajj without a permit' mobile exhibition kicks off in Madinah    TCL Electronics introduces the latest QD-Mini LED TV and smart home appliances    Saudi Arabia completes 1st phase of desertification assessment with creating 246 maps    Passengers tell of horror aboard turbulence-hit flight    US signals support for possible sanctions against ICC over Israel warrants    Former Marine charged with spying for Hong Kong found dead    Agriculture ministry: No truth in rumors regarding meat consumption during withdrawal period causing diseases in humans    Saudi AI model ALLaM joins IBM's watsonx platform, bolsters Arabic language capabilities    Energy minister: Saudi Arabia sets new world record in producing low-cost electricity from wind energy    Syrian first lady Asma al-Assad diagnosed with leukemia, presidency announces    'Two Kingdoms' initiative celebrates shared Saudi-UK artistic legacy    Oleksandr Usyk claims undisputed heavyweight title in 'Ring of Fire' match in Riyadh    Saudi Arabia: The emerging cultural powerhouse shaping global soft power dynamics    Jorge Jesus praises Al Hilal's resilience after dramatic last-minute draw in Riyadh Derby    Star golfer Scottie Scheffler arrested over alleged assault on police officer    Al-Ittihad's victory drought continues, misses chance to qualify for ACL elite    JK Rowling in 'arrest me' challenge over hate crime law    Trump's Bible endorsement raises concern in Christian religious circles    Hollywood icon Will Smith shares his profound admiration for Holy Qur'an    We have celebrated Founding Day for three years - but it has been with us for 300    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







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Wall Street closing
Published in Saudi Press Agency on 04 - 11 - 2008

Stocks were little changed Monday, finishing mixed as investors awaited the U.S. presidential election and considered lower oil prices, a stronger dollar, and more signs the economy is in a recession.
Lending rates continued to improve amid the efforts of U.S. and world governments to get money flowing again. In the afternoon, Federal Reserve (Fed) official Richard Fisher predicted that there will be no economic growth through 2009.
The U.S. government said it will borrow a record $550 billion in the fourth quarter and another $368 billion in the first quarter of next year as it tries to fund the massive financial rescue plan recently put in place.
Investors were cautious Monday ahead of Election Day. Analysts said investors will be pleased when the election is over and will welcome a change in presidential administrations.
Light sweet crude oil for December delivery fell $3.90 to $63.91 a barrel on the New York Mercantile Exchange. The U.S. dollar fell versus the euro and gained against the yen.
In economic news, an index on the U.S. manufacturing sector fell to a 26-year low of 38.9 in October from 43.5 the previous month. The decline suggests a recession and echoes weakness in recent regional manufacturing reports. Another report showed construction spending fell 0.3 percent in September. A survey of top economists showed a majority believe the United States is in a recession and will remain in one through 2009.
In company news, Circuit City shares jumped 38 percent after the consumer electronics retailer announced it was closing about 20 percent of its stores. Ford Motor reported October sales fell 30 percent from a year ago, but the decline was smaller than analysts had expected.
The Dow Jones industrial average was virtually unchanged, falling 5.18 to 9,319.83. General Motors (GM) reported a bigger-than-expected decline of 45 percent in October vehicle sales. The broader Standard & Poor's 500 index fell 2.45, or 0.25 percent, to 966.30. The technology-heavy Nasdaq composite index rose 5.38, or 0.3 percent, to 1,726.33.
The New York Stock Exchange composite index fell 6.11 to 6,054.98. The American Stock Exchange composite index rose 8.44 to 1,475.34. And the Russell 2000 index rose 0.98 to 538.50.


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