Consumer spending rises but Hong Kong protests weigh down markets

Consumer spending climbed 0.5% in August but the markets traded lower with the Dow tumbling 93 points to 17,019 as pro-democracy protests continued in Hong Kong. Nasdaq lost 15 points to 4,496.

On the upside

JAB Holding will purchase Einstein Noah Restaurant Group (Nasdaq: BAGL) for a premium of approximately $374 million in cash.

Daiichi Sankyo will pay a premium of approximately $315 million in cash to acquire Ambit Biosciences (Nasdaq: AMBI).

AMAG Pharmaceuticals (Nasdaq: AMAG) will buy Lumara Health in a cash and stock deal valued at approximately $675 million.

On the downside

Tonix Pharmaceuticals (Nasdaq: TNXP) reported disappointing results from a Phase 2b study of its fibromyalgia treatment TNX-102 SL.

Shares of CTC Media (Nasdaq: CTCM) fell after the lower house of the Russian parliament passed the third reading of proposed amendments to the "On Mass Media" law that would further restrict foreign ownership of Russian mass media businesses.

Profit taking weighed down shares of Textura (NYSE: TXTR).

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by 5 to 3 on Nasdaq. The broader S&P 500 lost 9 points to 1973. Bitcoin rose $8 to $381.