US stocks slip below records; FMC falls

AP News
Posted: Jun 23, 2014 4:07 PM
US stocks slip below records; FMC falls

NEW YORK (AP) — U.S. stock indexes are closing slightly below the record levels they hit last week as investors assess a batch of corporate news.

Wisconsin Energy fell 4 percent and General Electric fell 1 percent after the companies said they had made acquisitions. Chemicals maker FMC fell 5 percent after cutting its earnings forecast after farmers used less of its products due to an unusually harsh winter.

The Standard & Poor's 500 index fell a fraction of a point, less than 0.1 percent, to close at 1,962 Monday.

The Dow Jones industrial average dropped fell 10 points, also less than 0.1 percent, to 16,937. The Nasdaq composite index was little changed at 4,368.

Bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.62 percent from 2.60 percent.