The Joplin Globe, Joplin, MO

Business

March 11, 2013

Stocks slip early Monday after record week

NEW YORK — Coming off a record week, the stock market is drifting lower in light trading Monday.

The Dow Jones industrial average fell two points to 14,395. That’s a drop of less than 0.1 percent. Intel led the Dow lower, slipping 1 percent.

Last week, the blue-chip index posted four straight days of record highs after blowing past its all-time high on Tuesday. It ended the week up 2 percent.

There were no major economic reports to drive trading on Monday. Later in the week, the government will release figures for the federal budget in February, as well as reports on consumer prices and industrial production.

The Standard & Poor’s 500 index fell three points, or 0.2 percent, to 1,548. The Nasdaq composite dropped seven points, also 0.2 percent, to 3,238.

Of the 10 industry groups in the S&P 500 index, telecom and energy companies dropped the most, slipping almost half a percent.

The S&P 500 index is now trading around 15 points, or 1 percent, short of its all-time closing high of 1,565.

In the Treasury market, the yield on the benchmark 10-year Treasury note was 2.04 percent, unchanged from late Friday.

On Friday, the Labor Department said that U.S. employers added 236,000 workers to their payrolls in February, pushing the unemployment rate down to 7.7 percent, the lowest since December 2008.

 

1
Text Only
Business
Poll

Amendment 8 in Missouri proposes a special lottery ticket to help fund state veterans homes. How will you vote?

For it.
Against it.
     View Results
Facebook
Twitter Updates
Follow us on twitter
NDN Video
Arizona Prison Chief: Execution Wasn't Botched Calif. Police Investigate Peacock Shooting Death Raw: Protesters, Soldiers Clash in West Bank Police: Doctor Who Shot Gunman 'Saved Lives' 'Modern Family' Star on Gay Athletes Coming Out MN Twins Debut Beer Vending Machine DA: Pa. Doctor Fired Back at Hospital Gunman Raw: Iowa Police Dash Cam Shows Wild Chase Obama Seeks Limits on US Company Mergers Abroad Large Family to Share NJ Lottery Winnings U.S. Flights to Israel Resume After Ban Lifted Official: Air Algerie Flight 'probably Crashed' TSA Administrator on Politics and Flight Bans Raw: National Guard Helps Battle WA Wildfires Raw: Ukraine's Donetsk Residents Flee Senators Push to End Hamas Threat in Cease-Fire A Young Victim's Premonition, Hug Before MH17 Raw: Deadly Storm Hits Virginia Campground Death Penalty Expert: 'This is a Turning Point' Raw: MH17 Victim's Bodies Arrive in Netherlands