Dow snaps winning streak, closes lower

The US stocks pulled back on Aug. 28, with treasury yields rising, as the markets anticipated Q2 2024 gross domestic product (GDP) reading on Aug. 29, ahead of the Personal Consumption Expenditures (PCE) print.

Dow Jones Industrial Average lost 159 points, or 0.4%, settling at 41,091, ending a three-session positive run. The S&P 500 slipped 0.6%, or 33 points, to end at 5,592 and the Nasdaq Composite fell 1.1%, or 198 points, to close at 17,556.

As for the European indices, STOXX Europe 600 advanced 0.35%, to 520.6 points, hit by the drops in led by mining, energy and auto sectors.

FTSE 100 remained unchanged at 8,343 points and CAC 40 rose 0.15% to 7,577 points. DAX 40 increased 0.55% to 18,782 points.

In Japan, the Nikkei 225 rose 0.2% to 38,371 points. TOPIX advanced 0.4%, to 2,692 points.

In the oil market, futures contracts for Brent crude for October delivery declined by 1.15%, or $0.90, to $78.65 per barrel.

Meanwhile, prices of West Texas Intermediate (WTI) crude oil for October delivery fell 1.35%, or $1.01, to $74.52 per barrel.

As for gold, futures prices for the yellow metal for December delivery inched down 0.6%, or $15.1 to $2,537 per ounce.