Stocks lower ... Home Depot sales ... Kellogg leaves Venezuela
NEW YORK (AP) — Losses in technology and health care companies helped pull U.S. stocks lower, snapping an eight-day winning streak by the Dow Jones industrial average. The broad sell-off followed a slide in bond prices, which sent the 10-year Treasury yield to its highest level in almost seven years.
NEW YORK (AP) — The S&P 500 index fell 18.68 points, or 0.7 percent, to 2,711.45. The Dow lost 193 points, or 0.8 percent, to 24,706.41. The drop pulled the 30-company average to a slight loss for the year. The Nasdaq composite dropped 59.69 points, or 0.8 percent, to 7,351.63.
NEW YORK (AP) — Benchmark U.S. crude oil reversed an early side, rising 35 cents to settle at $71.31 a barrel in New York. Brent crude, used to price international oil, added 20 cents to close at $78.43 a barrel in London. Gold fell $27.90, or 2.1 percent, to $1,290.30 an ounce.
NEW YORK (AP) — Home Depot reported slower-than-expected sales growth for the first quarter. Spring weather that was colder than usual hurt sales of fertilizer, live plants and other gardening-related items. Sales rose 4.2 percent at all established Home Depot stores during the first three months of the year.
MARACAY, Venezuela (AP) — The Kellogg Company is closing operations in Venezuela at a time of widespread hunger in the crisis-wracked South American nation. The Battle Creek, Michigan-based company says it was prompted to cease operations as a result of the “current economic and social deterioration in the country.”