A weak start for US stocks as commodities prices sink

AP News
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Posted: Nov 12, 2015 9:40 AM
A weak start for US stocks as commodities prices sink

NEW YORK (AP) — Stocks are heading lower in early trading, weighed down by weakness in mining and energy companies.

Prices for copper, oil and other commodities were falling early Thursday.

Freeport-McMoRan sank 6 percent and Chesapeake Energy fell 4 percent.

The Dow Jones industrial average gave up 145 points, or 0.8 percent, to 17,552 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index lost 14 points, or 0.7 percent, to 2,060. The Nasdaq composite declined 29 points, or 0.6 percent, to 5,035.

The price of oil shed 2 percent to $42 a barrel in New York.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.32 percent.