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Dow Drops 55, Stock Soars for Virgin America

Stocks sink overall on slow day for Wall Street
By Newser Editors and Wire Services
Posted Apr 4, 2016 3:25 PM CDT

(Newser) – Stock indexes are ending mostly lower in a relatively quiet day of trading on Wall Street. Homebuilder PulteGroup sank 7% Monday on news that the company's CEO will retire next year as part of a management shakeup. Virgin America jumped 40% after agreeing to be acquired by Alaska Air. Alaska Air sank 6%. The Dow Jones industrial average edged down 55 points, or 0.3%, to 17,737.

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The Standard & Poor's 500 index gave up six points, or 0.3%, to 2,066. The Nasdaq composite moved down 22 points, or 0.5%, to 4,891. The price of US crude oil declined 3% in New York. Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 1.77%. (Read more Wall Street stories.)

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