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Global Stocks: U.S. indices declined
U.S. stock indices mostly closed down on Friday despite opening gains. Biotech and health-care stocks led declines. The Dow managed to end the session with a moderate gain due to an 8.9% increase in prices of Nike Inc. shares. Early Friday gains were generated by optimism after Fed Chair Janet Yellen said Thursday that the U.S. economy strengthened.
The Dow Jones Industrial Average rose 113.35 points, or 0.7%, to 16,314.67 (-0.4% over the week). The S&P 500 declined 0.90, or 005%, to 1,931.34 (-1.4% over the week). The Nasdaq Composite Index lost 47.98, or 1%, to 4,686.50 (-2.9% over the week).
This morning in Asia China Shanghai Composite Index fell 0.30%, or 9.31 point, to 3,083.04. The Nikkei lost 1.14%, or 203.43, to 17,677.08. Hong Kong markets are on holiday.
Japanese stocks declined amid profit taking.
Chinese stocks are weighed by economic data. Pessimism is driven by a survey from Caixin, which showed that China's Manufacturing PMI declined to 47 (the lowest level in 6.5 years) in September.
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