Dow down 69 points at 10,081.
NEW YORK (AP) — Stocks fell Monday after further signs of
slowing growth added to caution ahead of the government’s crucial
jobs report later in the week.
The Dow Jones industrial average fell nearly 50 points in afternoon
trading. Broader indexes also dropped. With investors concerned
about the health of the economy, money again flowed into the bond
market, sending interest rates lower.
A report Monday showed personal income rose less than expected in
July, adding to the string of data that points toward a slowdown in
growth during the second half of the year.
“The personal income report did little to ease the nervousness
about the trajectory of the economy,” said Alan Gayle, senior
investment strategist at RidgeWorth Investments. The report did
show spending was up in July, but without consistent growth in
income, any increase in spending is likely temporary, Gayle
said.
