A 7-day rally in US stocks loses steam
NEW YORK (AP) — Stocks are edging lower in midday trading on Wall Street as the market’s longest rally since July peters out.
The Dow Jones industrial average fell 11 points, less than 0.1 percent, to 15,331 Thursday. The Dow had added more than 400 points since Monday and is up 3.4 percent this month.
The Standard & Poor’s 500 index fell three points to 1,686 after rising the past seven days, the longest winning streak since July.
The Nasdaq composite fell two points to 3,722.
Lululemon Athletica plunged $4.52, or 7 percent, to $64.49 after the high-end yoga apparel maker issued a weak profit outlook for the current quarter and cut its forecast for the full year.
Pandora Media jumped $2.60, or 12 percent, to $23.98 after naming a new CEO.