US stocks dip in quiet trading ahead of Memorial Day weekend

AP News
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Posted: May 22, 2015 4:10 PM
US stocks dip in quiet trading ahead of Memorial Day weekend

NEW YORK (AP) — Stocks are closing moderately lower in a relatively quiet day ahead of a holiday weekend.

Trading volume was relatively light Friday ahead of the Memorial Day holiday in the U.S.

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

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

The price of oil fell $1 to close at $59.72 a barrel in New York. Traders were worried about supplies increasing.

Campbell Soup rose 2 percent 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 percent.