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US stocks open lower

US stocks open lower

Stocks are down in early trading after the government said personal incomes fell last month by the largest amount in nearly three years while consumer spending slowed.
Investors are also charting the path of Tropical Storm Gustav as it heads toward the Gulf of Mexico and its oil rigs and refineries.
The Commerce Department says personal incomes fell by 0.7 percent in July _ well beyond the drop of 0.1 percent that analysts polled by Thomson IFR had predicted on average. The government also says consumer spending rose a modest 0.2 percent, meeting the market's expectations.
The Dow Jones industrial average is down 51 at the 11,663 level.
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On the Net:
http://www.nyse.com
http://www.nasdaq.com


Updated : 2021-10-23 13:05 GMT+08:00