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Winning streak ends on Wall Street ... Oil prices down slightly ... Uber fires researcher

May 30, 2017

NEW YORK (AP) — A seven-day winning streak for stocks came to a quiet end today as banks, especially smaller ones, dropped along with bond yields and interest rates. Energy companies also sank. Investors snapped up government bonds and high-yield stocks including phone companies and utilities. As bond prices rose, yields and interest rates fell.

NEW YORK (AP) — The Standard & Poor’s 500 index lost 2.91 points, or 0.1 percent, to 2,412.91. The Dow Jones industrial average fell 50.81 points, or 0.2 percent, to 21,029.47. The Nasdaq composite dipped 7 points, or 0.1 percent, to 6,203.19. The Russell 2000 index of smaller-company stocks tumbled 11.05 points, or 0.8 percent, to 1,371.19.

NEW YORK (AP) — Oil prices recovered from an early stumble and finished only slightly lower, but energy companies continued to fall. Hess dropped $1.47 to $46.67 and Schlumberger shed 85 cents to $68.74. The S&P 500 index of energy companies reached its lowest level in a year. Benchmark U.S. crude lost 14 cents to $49.66 a barrel in New York. Brent crude, the international standard, fell 45 cents to $51.84 a barrel in London.

DETROIT (AP) — Uber has followed through on threats to fire a star autonomous-car researcher whose hiring touched off a bitter legal fight with Waymo, the former self-driving car arm of Google. Waymo has alleged that Anthony Levandowski downloaded 14,000 documents containing trade secrets before he founded a startup that was purchased by Uber. A federal judge has ordered Uber to return the documents and referred the case to the U.S. Attorney’s Office for possible criminal investigation.

NEW YORK (AP) — The USAA financial services firm says it is reinstating its advertising on Sean Hannity’s Fox News Channel program after receiving heavy criticism from many of the military members and veterans that it serves. USAA was one of 10 companies that had pulled ads from the program “Hannity,” which had been attacked for reporting a discredited story involving the death of a Democratic National Committee staff member.

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