Dow Logs Lowest Close In Four Months
The first trading day of October saw the Dow shed 74 points for its eighth loss in 10 sessions and lowest close since June 2. The September scaries bled into a new month for at least one day, even after U.S. lawmakers agreed to a short-term deal that prevented a government shutdown. Technology and communications were the broader market's only positive sectors today, though the S&P 500 still finished in the red and the Nasdaq managed a fractional win.
OIL FUTURES FALL TO 3-WEEK LOW
Oil futures settled lower to start October, dragged down to a three-week low by a stronger U.S. dollar, profit taking, and forecast concerns about rising crude supplies and demand pressure. Crude for November delivery lost $1.97, or 2.2%, to settle at $88.82 per barrel.
Gold prices settled lower too, settling at its lowest level since March as they head for a "death-cross" -- a technical term that usually indicates bearishness. December-dated gold shed $18.90, or 1%, to close at $1,87.20 an ounce on the day.
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