Wall Street drifting lower at end of the month – FBI weighing on Wall Street

Wall Street was mixed and a drift lower at the start of a new week where the FOMC get underway with their two-day meeting and in the aftermath of last weeks bombshell that hit the Democrats in the last full week before the Presidential elections.

Last week, we got the news that FBI Director James Comey had written to Congress saying the agency was taking another closer look at the emails in question written and received by Democratic presidential nominee Clinton at the time that she was secretary of state. Investors remained cautious of this as Wall Street wants a Clinton victory and such criminal activity in these waning days is a nightmare for her campaign.

The S&P 500 shed just 0.26 points to close at 2,126.15, while five of the 11 main sectors ended lower, led the energy sector declining 1.2% and WTI dropping 3%. The Dow Jones Industrial Average fell 18.77 points, or 0.1%, to close at 18,142.42, with a 0.9% while  the Nasdaq Composite Index ended lower by 0.97 points at 5,189.13 on a mixed day of gains and losses. For the month, the Dow fell 0.9%, the S&P 500 declined 1.9% and the Nasdaq shed 2.3%. For the Dow and the S&P 500, it was the third straight monthly loss.

 

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