Business

Wall Street markets end lower

NYSE traders Image copyright Reuters

(Close): US stock markets closed lower on Monday, despite good results from Bank of America and toymaker Hasbro.

The Dow Jones industrial average ended the day down 51.98 points, or 0.3%, at 18,086.40.

The wider S&P 500 index fell 2.70 points to 2,126.50 while the Nasdaq dropped 14.34 points to 5,199.82.

Shares in toymaker Hasbro rose 7.4% after its latest results beat forecasts thanks to strong demand for Disney Princess, Frozen and Trolls dolls.

Profits for the third quarter of the year climbed to $257.8m from $207.6m a year earlier, with revenues 14.2% higher at $1.68bn.

Third quarter profits also rose at Bank of America, and its shares edged up 0.3%.

Profits rose 6.6% to $4.45bn with revenues up 3% to a better-than-expected $21.64bn.

Like its rivals JP Morgan and Citigroup the bank benefitted from a recovery in bond trading, which was partly triggered by the UK's Brexit vote. Profits have also been boosted by cost cutting across all units of the bank.