S&P 500 index ends slightly lower

AP News
Posted: Jun 03, 2014 4:15 PM
S&P 500 index ends slightly lower

NEW YORK (AP) — U.S. stocks have pulled back from record levels and are ending slightly lower.

The Standard & Poor's 500 index edged down less than a point, or 0.04 percent, to close at 1,924 on Tuesday.

The Dow Jones industrial average lost 21 points, or 0.1 percent, to 16,722.

The Nasdaq composite slipped three points, or 0.1 percent, to 4,234.

Krispy Kreme Doughnuts slumped 15 percent after the company cut its earnings forecast for the year, citing higher costs and fewer sales than previously estimated.

Hillshire Brands jumped nearly 10 percent as a bidding war for the sausage maker heated up. Tyson Foods and Pilgrim's Pride are competing to buy the company.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.60 percent.