Dow Edges Up as S&P, Nasdaq Slip

Media, health care, tech companies fall
By Newser Editors and Wire Services
Posted May 3, 2017 3:16 PM CDT
Trader Christopher Fuchs, right, works on the floor of the New York Stock Exchange, Tuesday, May 2, 2017.   (AP Photo/Richard Drew)

(Newser) – Stocks are closing mostly lower on Wall Street as media, health care and some technology companies fell, the AP reports. Akamai Technologies slumped 15.5% after the cloud services provider made a weak revenue forecast. Media stocks fell after Time Warner reported poor advertising sales for cable TV. Viacom sank 7.5% and Walt Disney fell 2.4%. Bond yields and bank stocks rose as investors expected that interest rates will rise soon. The Federal Reserve left interest rates unchanged but appears to be on track to raise them next month. The Standard & Poor's 500 index edged down 3 points, or 0.1%, to 2,388. The Dow Jones industrial average edged up 8 points, less than 0.1%, to 20,957. The Nasdaq composite fell 22 points, or 0.4%, to 6,072. (Read more stock market stories.)

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