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Dow Jones Industrial Average

Last Updated at 28 Aug 2014, 16:27 ET *Chart shows local time Dow Jones intraday chart
value change %
17079.57 -
-42.44
-
-0.25

Top winner and loser

Home Depot Inc.

92.51 +
+0.64
+
+0.70

Visa Inc.

214.60 -
-2.53
-
-1.17
value change %

Nasdaq Index

4557.69 -
-11.93
-
-0.26

S&P 500 Cash Index - Chicago Mercantile Exchange

1996.74 -
-3.38
-
-0.17

(Close): Worries over the situation in Ukraine sent US stocks lower on Thursday.

Ukrainian President Petro Poroshenko has cancelled a visit to Turkey, citing "Russian troop deployments" in the east of Ukraine.

The Dow Jones fell 42.44 points to end at 17,079.57.

The S&P 500 dipped back below the 2,000 mark, dropping 3.38 points to 1,996.74, while the Nasdaq shed 11.93 points to 4,557.69.

Nerves over events in Ukraine overshadowed some positive economic news, with US second quarter economic growth being upgraded to an annual pace of 4.2% from an earlier estimate of 4%.

There was also positive news from the jobs market, with Labor Department figures showing that the number of people making new applications for jobless benefits fell by 1,000 last week to 298,000.

Shares in Dollar General were up 0.8% after it reported a 2.4% rise in net income to $251.3m for the quarter to 1 August.

The retailer also said it remained committed to buying Family Dollar Stores. Last week, Family Dollar rejected a $9bn takeover offer from Dollar General in favour of a rival bid from Dollar Tree.

For the second day in a row, struggling electronics retailer RadioShack was the day's biggest winner.

Shares in the firm rose another 30% as rumours continued to swirl about a possible cash infusion from shareholder Standard General.

More Business stories

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BBC Business Live

  1.  
    NATIONWIDE HOUSE PRICES 07:11:
    Houses

    House prices are still going up says the Nationwide building society. In August they rose by another 0.8%, pushing the annual rate of inflation to 11%. It's the 16th monthly rise in a row.

     
  2.  
    TESCO PROFIT WARNING 07:10:

    "We now expect trading profit for 2014/15 to be in the range of £2.4bn to £2.5bn. Trading profit for the six months ending 23 August 2014 is expected to be in the region of £1.1bn."

     
  3.  
    TESCO PROFIT WARNING 07:08:

    Tesco has brought forward the start date for Philip Clarke's replacement David Lewis as boss. He now starts the job on Monday.

     
  4.  
    TESCO PROFIT WARNING 07:05: Breaking News

    Tesco says its profits will be lower than expected. Dividends to be cut. More shortly.

     
  5.  
    VIRGIN AUSTRALIA 06:49:
    Virgin planes

    Virgin Australia overnight announced losses of A$355.6m (£200.5m) for the year - more than three times its loss last time. It blamed "weak consumer sentiment" and too many planes - like its rival Qantas which reported its results yesterday.

     
  6.  
    CO-OP VOTE 06:35: BBC Radio 4

    Big changes to the structure of the deeply troubled Co-op group will be put to a ballot of members tomorrow. Phil Dorrell, of consultants Retail Remedy, tells Today that even if the changes go through, a new leadership will have lot of work to do. "This will be a large step-change. My one concern would be that it probably shouldn't be the final change for the Co-op, they should consolidate, make sure they get their businesses back on track, and then have another look at it in a couple of years time."

     
  7.  
    EUROZONE ECONOMY 06:22: Radio 5 live

    Wake Up to Money ponders whither the eurozone? This week France had to re-appoint its cabinet because of its failing economy. Italy re-entered recession earlier this month and even German GDP was down slightly in the latest quarter. Kathleen Brooks, from Forex.com tells the programme: "Some economies are falling at a faster rate than others but what we've really seen is the core economies Germany and France lagging behind Spain."

     
  8.  
    HOUSE PRICES 06:14:
    For Sale signs

    The gap between house sellers' asking prices and actual selling prices is widening, says the property website Hometrack. It explains that the market is cooling down, at least in terms of prices. It says sellers in England and Wales typically got 96% of their asking price in August, falling back for the third month in a row. But it adds house prices only tend to start falling when the percentage of the asking price that sellers achieve falls below 94%.

     
  9.  
    GOOGLE DRONE 06:03:
    Google drone

    Overnight, Google said it was developing drones to act as flying delivery vehicles. The company calls it Project Wing. But it said it would take many years to create a service with lots of drones making lots of deliveries every day. More here.

     
  10.  
    06:00: Rebecca Marston Business reporter, BBC News

    All of that. Stay with us - we're here 'til 13:00.

     
  11.  
    06:00: Ian Pollock Business reporter, BBC News

    Good morning, we are here again, to keep you informed, educated and possibly entertained.

     

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