Stock Indexes Pull Back Below Records

Thanks to losses in industrial, energy stocks
By Newser Editors and Wire Services
Posted Jan 18, 2018 3:20 PM CST
Trader Patrick McKeon works on the floor of the New York Stock Exchange, Wednesday, Jan. 17, 2018.   (AP Photo/Richard Drew)

(Newser) – Stocks closed slightly lower Thursday on Wall Street, pulling the market below the record highs it set the day before, the AP reports. Losses in industrial and energy stocks contributed the most to the modest declines. Boeing lost 3.1% while Kinder Morgan fell 2.9%. La Quinta rose 3.8% after Wyndham Worldwide agreed to buy its hotel franchise and management business. Wyndham gained 4.8%.

The Standard & Poor's 500 index fell 4 points, or 0.2%, to 2,798. The Dow Jones industrial average gave up 97 points, or 0.4%, to 26,017. The Nasdaq composite fell 2 points, less than 0.1%, to 7,296. Bond prices fell. The yield on the 10-year Treasury note rose to 2.62%. That's the highest level for the benchmark yield since March.


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