US stocks edge lower after five record closes

AP News
Posted: Nov 12, 2014 9:39 AM
US stocks edge lower after five record closes

NEW YORK (AP) — U.S. stock indexes are opening lower as the market comes off five days of record closes.

The Standard & Poor's 500 index was down seven points, or 0.4 percent, at 2,032 as of 9:35 a.m. Eastern time Wednesday.

The Dow Jones industrial average fell 71 points, or 0.4 percent, to 17,544. The Nasdaq composite fell 12 points, or 0.3 percent, to 4,648.

J.M. Smucker sank 4 percent after the company said sales of its Folger coffee brand fell as consumers avoided high prices.

Susquehanna Bancshares jumped 32 percent on news that the commercial bank BB&T would buy the company. BB&T fell 2.3 percent.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.33 percent. Bond trading was closed Tuesday for Veterans Day.