Brands Retreat

Indices closed in the red zone Wednesday. Commodities and financial stocks led the downswing. Brands such as Dow Chemical, Alcoa, Morgan Stanley and Bank of America retreated. Meanwhile, durable goods orders declined last month. The Census Bureau said new orders for manufactured goods fell 0.1% in August, following July’s 4.1% increase. The reading missed an anticipated 0.2% increase. Excluding transportation, orders slipped by 0.1%. On another note, crude oil shed $3.24 to settle at $81.21 a barrel.

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