Stocks lower, still set for third-quarter gains

AP News
Posted: Sep 28, 2012 9:58 AM
Stocks lower, still set for third-quarter gains

NEW YORK (AP) — Stocks are opening lower on the final trading day of the third quarter.

Just after the opening bell, the Dow Jones industrial average is down 63 points at 13,422. The S&P is down 5 at 1,442. And the Nasdaq composite index is lower by 13 points at 3,124.

All three indices are still set to finish the quarter with single-digit gains.

Americans boosted their spending in August even though their income barely grew, the Commerce Department said. Much of the spending increase went to pay higher gas prices.

Stocks finished higher in Asia but are lower in Europe as investors continue to fret about Spain's financial health.