finance
Dow Jones Falls 500 Points as NY Manufacturing Index Rises in May
U.S. stocks declined in morning trading on Friday with the Dow Jones falling about 500 points. The New York manufacturing index rose to 19.6 in May from 11 the prior month, exceeding forecasts of 7.5. Energy shares rose while information technology shares declined.
May 15, 9:57 AM·1m read1 source
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U.S. stocks opened lower on Friday. The Dow Jones index fell around 500 points, trading down 1 percent at 49,562.35 shortly after the opening bell. The NASDAQ declined 1.79 percent to 26,158.37 while the S&P 500 dropped 1.29 percent to 7,404.51. Energy shares rose 1.2 percent in morning trading. Information technology stocks fell 2.2 percent during the same session.
The NY Empire State Manufacturing Index increased to 19.6 in May from 11 in April. The reading topped market estimates of 7.5. The latest figure indicated New York manufacturing activity expanded at the fastest pace in more than four years.
Inc shares rose 283 percent to $1.29 after the company reported first-quarter results. Shares of Dreamland Ltd surged 102 percent to $1.62. Auddia shares also advanced.
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