|09-09-2014, 01:55 PM||#1|
Wall Street take s a pause, Yahoo, Hertz major movers
U.S. stocks fell early Monday, erasing small gains notched last week that saw the S&P 500 hit another all-time high.
-The Dow Jones Industrial Average fell 0.09% or 16.24 points to 17120.95
-The S&P 500 index fell 0.10% or 2.00 points to 2005.75
-The NASDAQ Composite Index gained 0.29% or 13.14 points to 4596.14 . As of 09:59 a.m. ET
The pause follows strides in major indexes last week. On Friday, the S&P cruised to its 33rd record close of the year, as investors viewed the disappointing August jobs report as leeway for the Federal Reserve to keep its easy-money policies in place for longer.
Oil futures shed 1.1% to $92.23 a barrel. Gold futures gained 0.2% to $1268.40 an ounce.
Bond prices rose. The yield on the 10-year Treasury note fell 3.2 basis points to 2.427 percent.
In corporate news, Alibaba Group Holding Ltd. is set to begin pitching its stock to investors on Monday ahead of the Chinese company`s initial public offering. Shares of Yahoo Inc., which owns a 24% stake in Alibaba, rose 2.4% premarket.
Campbell Soup fell 3.3 percent after reporting revenue that fell short of analysts` forecasts.
Hertz jumped 5 percent after the company announced that its CEO had stepped down. In June Hertz said it needed to correct financial statements from the last three years because of accounting errors.
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