US stocks edged lower, Intel drops 2%

By FXStreet FXStreet (Mumbai) – The stock markets in the US edged lower in early session today after having ended the previous session higher despite prospects of the Fed rate hike in December.

At the time of writing, the Dow Jones Industrial Average (DJIA) was down 35 points. The S&P 500 had lost 3 points, while the Nasdaq was down 15 points. Meanwhile, Bond prices fell, pushing the yield on the 10-year Treasury note higher to 2.13%.

Shares in Intel dropped 2%. The news is doing rounds that Intel VP Gregory R. Pearson sold 1,506 shares of the company’s stock in a transaction dated Thursday, October 22nd. Shares in Cisco, Microsoft also declined close to 1% each.

Meanwhile, energy stocks like Chevron and Exxon Mobil strengthened moderately on account of a rise in WTI oil prices. The US Q3 preliminary GDP figure released today failed to have a major impact on the financial markets.
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Source:: FX Street