US stocks lower ahead of holiday

US stocks lower ahead of holiday

US stocks have closed moderately lower on a relatively quiet day of trading ahead of a holiday weekend.

Trading volume was relatively light ahead of the Memorial Day holiday in the US.

The Dow Jones industrial average fell 53 points, or 0.3%, to 18,232.

The Standard & Poor’s 500 index lost four points, or 0.2%, to 2,126. The Nasdaq composite edged down a point to 5,089.

The price of oil fell one dollar to close at 59.72 a barrel in New York. Traders were worried about supplies increasing.

Campbell Soup rose 2% after its earnings came in ahead of what analysts were looking for.

Bond prices fell after the government reported an increase in consumer prices last month. The yield on the 10-year Treasury note rose to 2.21%.

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