Wednesday, September 3, 2008

Stocks Close Mixed, Beige Book Illustrates Slow Economy

The Federal Reserve released its Beige Book, a summary of economic conditions in all twelve Fed districts across the nation, and it noted that the pace of economic activity has been slow in most districts. "Weak," "soft," or "subdued," were used to describe business conditions in many districts, the report said. More from Bloomberg...

The Dow Jones Industrial Average gained 16 points (0.1%) to close at 11,533, the S&P 500 Index lost 3 points (0.2%) to 1,275, and the Nasdaq Composite declined 16 points (0.7%) to 2,334. Crude oil declined $0.36 to $109.35 per barrel, and gold lost $4.50 to finish at $806.00 per ounce.

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