|09-10-2014, 06:19 PM||#1|
Wall Street edges lower, Apple`s product event in focus
U.S. stocks were moving slightly lower after the opening, with the S&P 500 falling back below the 2,000 mark, extending the previous session’s losses amid mixed corporate news ahead of Apple’s highly anticipated product event later in the day.
The tech giant will hold its hotly waited product launch even at 1 p.m. ET near its headquarter in Cupertino, California, where it will release its newest flagship iPhone and announce its first entry into the wearable devices market with the iWatch.
Home Depot declined 1% after confirming that its payment systems were hacked, putting millions of shoppers who used credit and debit cards at its stores at risk.
Annie’s shot up 37% in early trade after the maker of rabbit-shaped mac and cheese agreed to be acquired by General Mills.
Pinnacle Foods Inc fell 4.38% after the packaged-foods maker said some shareholders tied to investment firm Blackstone will sell 15 million common shares.
Barnes & Noble Inc. rose 2.3%. Shares of the bookseller reversed losses that occurred immediately after releasing quarterly results. Same-store sales dropped more than forecast, but the loss was better than expected.
-The Dow Jones Industrial Average fell 0.47% or 80.18 points to 17032.08
-The S&P 500 fell 0.38% or 7.57 points to 1993.35
-The NASDAQ Composite index fell 0.25% or 11.51 points to 4580.43 . As of 10:10 a.m. ET
10-year Treasury yields rose 2.5 basis points to 2.5%, the highest since the beginning of August on a closing basis.
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