(By Salman - iStockAnalyst Writer)US stocks finished down on Thursday as oil prices declined following a surprise build in US oil inventories.
The Dow Jones Industrial Average retreated 93.79 points or 0.91% to finish at 10,197.47. The S&P 500 slid 11.27 points or 1.03% to end at 1,087.24. The Nasdaq Composite lost 17.88 points or 0.83% to 2,149.02.
The US Energy Department reported that crude oil inventory increased 1.762 million barrels to 337.7 million barrels in the week ended November 6. Analysts expected inventories to rise 200,000-barrel.
Shares of equipment maker Caterpillar Inc. (NYSE:
CAT) plunged $1.49 or 2.48% to $58.57.
Among financials, JP Morgan & Chase & Co. (NYSE:
JPM) slid $1.02 or 2.30% to $43.30. Shares of Bank of America Corp. (NYSE:
BAC) slumped 37 cents or 2.25% to $16.06.
Cisco Systems Inc. (NASDAQ:
CSCO) tumbled 52 cents or 2.17% to $23.40.
Intel Corp. (NASDAQ:
INTC) announced Thursday that it will pay Advanced Micro Devices (NYSE:
AMD) $1.25 billion as part of a settlement of "all outstanding legal disputes." Shares of chipmaker Intel Corp. (NASDAQ:
INTC) fell 16 cents or 0.81% to $19.68. AMD shares soared $1.16 or 21.80% to $6.48.
Energy stocks finished with losses. Exxon Mobil (NYSE: XOM) lost $1.01 or 1.39% to $77.42. Chevron Corp. (NYSE:
CVX) plummeted $1.09 or 1.39% to $77.42.
Travelers Companies Inc. (NYSE:
TRV) declined $1.17 or 2.15% to $53.14.
Shares of Dow Chemical Co. (NYSE:
DOW) rallied $1.89 or 7.08% to $28.60 after the chemical maker announced it has agreed to sell its powder coating business to Amsterdam-based chemicals group Akzo Nobel NV.
United Technologies Corp.
