US stocks edge lower; Teen retailers slide
U.S. stocks are closing lower as a thin slate of economic news and corporate results left investors unwilling to drive up a market that hit three record highs last week.
Teen retailers American Eagle and Urban Outfitters sank after releasing results and projections that disappointed investors.
The Standard & Poor’s 500 index lost nine points, or 0.5 percent, to 1,867 Tuesday.
The Dow Jones industrial average fell 67 points, or 0.4 percent, to 16,351. The Nasdaq composite fell 27 points, or 0.6 percent, to 4,307.
Men’s Wearhouse and Jos. A. Bank rose sharply after the two clothing store chains agreed to combine after months of back-and-forth negotiations. Men’s Wearhouse rose 5 percent and Jos. A. Bank rose 4 percent.
The yield on the 10-year Treasury note edged down to 2.76 percent.