Stocks closed lower on Wall Street Wednesday and Treasury yields fell following the latest signals that the U.S. economy is slowing.
The S&P 500 slid 0.2% and the Nasdaq lost 1.1%.
Reports on both services industries and the jobs market came in weaker than expected. They add to a series of disappointing economic reports this week. Johnson & Johnson scored its biggest gain in over a year after proposing a big settlement related to its baby powder containing talc. The yield on the 10-year Treasury fell as investors bet on a pause in Fed rate hikes.
On Wednesday:
The S&P 500 fell 10.22 points, or 0.2%, to 4,090.38.
The Dow Jones Industrial Average rose 80.34 points, or 0.2%, to 33,482.72.
The Nasdaq composite fell 129.47 points, or 1.1% to 11,996.86.
The Russell 2000 index of smaller companies fell 17.52 points, or 1%, to 1,752.13.
For the week:
The S&P 500 is down 18.93 points, or 0.5%.
The Dow is up 208.57 points, or 0.6%.
The Nasdaq is down 225.05 points, or 1.8%.
The Russell 2000 is down 50.35 points, or 2.8%.
For the year:
The S&P 500 is up 250.88 points, or 6.5%.
The Dow is up 335.47 points, or 1%.
The Nasdaq is up 1,530.38 points, or 14.6%.
The Russell 2000 is down 9.11 points, or 0.5%.
Grains mostly higher, Livestock lower
CHICAGO (AP) — Grain futures mostly higher Wednesday in early trading on the Chicago Board of Trade. Wheat for May was off 2.75 cents at $6.8975 a bushel; May corn rose 8.25 cents at $6.5850 a bushel; May oats was up 2.50 cents at $3.4850 a bushel; while May soybeans gained 8.75 cents at 15.2475 a bushel.
Beef and pork were lower on the Chicago Mercantile Exchange.
Apr. live cattle was off .30 cent at $1.6797 a pound; Apr. feeder cattle lost 2.12 cents at $1.98 a pound; Apr. lean hogs fell .72 cent at $.7350 a pound.
