The Straits Times
Published on Oct 09, 2012

US stocks close lower ahead of Q3 earnings season


NEW YORK (AFP) - US stocks followed European and Asian markets lower in opening Columbus Day trade Monday, giving up some of last week's solid gains ahead of the third quarter earnings reporting season.

At the close the blue-chip Dow Jones Industrial Average was down 26.50 points (0.19 per cent) at 13,583.65.

The broad-based S&P 500 dropped 5.05 (0.35 per cent) to 1,455.88, while the tech-rich Nasdaq Composite fell 23.84 (0.76 per cent) to 3,112.35.

"Whether the market reorients its thinking from central bank support to the weakening fundamental picture remains to be seen," said Mr Patrick O'Hare of