Market diary.Stocks continued their downward spiral last week as renewed concerns over the rising price of oil took their toll. Higher oil prices tend to act as a dampener on corporate profits and can put a brake on consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. . The Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. dropped 1.1 percent for the week ended May 19, the Nasdaq composite fell 1.4 percent and the S&P 500 declined 0.9 percent. The LABJ LABJ Los Angeles Business Journal 200 Index of local stocks was down 1.6 percent with decliners outnumbering gainers 118 to 65. The best performing industry group was miscellaneous services, rising 2.4 percent, followed by financial services, up 5.6 percent. Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. and pharmaceutical companies performed the worst, dropping 4.8 percent, followed by apparel firms, down 3.3 percent. Panavision Inc. led the weekly top gainers, climbing 46.7 percent. Next highest gainer was Kaire Holdings Inc., which jumped 20 percent. The big loser of the week was Aura Systems Inc., which declined 24.3 percent, followed by Farmer Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) Co., at 21.7 percent. National Lampoon Inc. slid 16.3 percent. |
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