iStock/Thinkstock(NEW YORK) — U.S. stocks closed lower Monday as oil prices declined, and investors weighed earnings reports.
The Dow fell 51.98 (-0.29 percent) to finish at 18,086.40.
The Nasdaq slid 14.34 (-0.27 percent) to close at 5,199.82, while the S&P 500 finished at 2,126.50, down 6.48 (-0.30 percent) from its open.
Crude oil gave up about 1 percent with prices hitting under $50 a barrel.
Winners and Losers: While other stocks were in the red, Hasbro, Inc. soared 7 percent Monday on its better-than-expected quarter three results. Earnings of $2.03 per share beat investors’ estimated $1.74 EPS.
Tesla’s stock slid over 1 percent on an announcement from CEO Elon Musk that Monday’s new product launch would be delayed until Wednesday because the company “needs a few more days of refinement.”
Shares in Netflix skyrocketed over 20 percent in after hours trading after its third-quarter earnings report beat expectations for subscriber growth, now boasting 86 million subscribers worldwide.
Federal Reserve: Speaking at the Economic Club of New York, Fed Vice Chairman Stanley Fischer discussed the long-term effects of low interest rates, and mentioned a number of factors that have been holding back the Fed from raising rates. Although he did not mention if there would be a rate hike in December, many believe it could happen then.
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