- Teacher who survived Sandy Hook has book deal
- Jury awards Jesse Ventura $1.8M in case vs. ‘American Sniper’ author Chris Kyle
- Government OKs Arab-owned company to operate U.S. cargo port
- Defense lawyer: McDonnell’s wife had ‘crush’ on CEO
- Chinese hackers stole ‘huge quantities’ of sensitive data on Israel’s Iron Dome
- House unveils bill to speed deportations of illegal immigrant children
- Californians protest middle school for hiring white man to teach cultural studies
- Killer’s sentencing overturned because mother couldn’t find seat in courtroom
- Hillary: ‘Dead broke’ comment was ‘inartful,’ but insists it was ‘accurate’
- Fla. mom arrested for allowing 7-year-old son to walk to park alone
Stocks slide, and investors wait for earnings
Question of the Day
Nonetheless, the number of owners who expect business conditions to improve in six months gained four percentage points. Those believing it’s a good time to expand rose three percentage points.
Only energy stocks kept the market from closing even lower. The price of crude oil jumped more than $3 per barrel to $92.39 because of supply concerns in the Middle East and the North Sea.
Energy stocks were the only major group in the S&P 500 to finish higher, and just barely. So-called consumer discretionary stocks, including companies like hotels and luxury stores that depend on a healthy economy, fell 1.5 percent as a group.
Among stocks making big moves, Edwards Lifesciences dropped $22.81 to $84.60 after the company reported revenue that fell well short of analyst forecasts. Sales of its Sapien heart valves were weaker than the company had expected.
Stanley Black & Decker, the tool maker, fell $1.99 to $72.24 after saying it would sell its hardware and home-improvement business to Spectrum Brands Holdings for $1.4 billion in cash.
Spectrum Brands’ stock jumped $4.88, or 11.9 percent, to $46.04. The Wisconsin company owns the Rayovac, Remington and Toastmaster brands.
Eli Lilly, the drugmaker, rose $1.03, or 2 percent, to $51.81 after two studies found that its experimental Alzheimer’s drug may modestly slow mental decline.
The yield on the 10-year Treasury note fell to 1.72 percent from 1.74 percent late Friday. U.S. government bond trading was closed Monday for the Columbus Day holiday.
European markets also fell. Benchmark indexes fell 0.8 percent in Germany and 0.5 percent Britain. France’s stock market index fell 0.7 percent.
TWT Video Picks
- Boehner rules out impeachment: 'Scam started by Democrats'
- Federal judge grants 90-day stay in D.C. gun case
- GOP Senate candidate: Obama needs to visit Central America
- Obama thanks Muslims for 'building the very fabric of our nation'
- Smugglers, rainstorm combine to poke holes in border fence
- California's Jerry Brown cites God, 'religious call' to embrace illegals
- D.C. seeks to stay judge's order allowing gun owners to carry in public
- Kerry's credibility questioned as fighting in Gaza rages
- Hillary Clinton: Forget Obama, George W. Bush made her 'proud to be an American'
- Appeals court upholds Obamacare tax as constitutional
Obama's biggest White House 'fails'
Celebrities turned politicians
Athletes turned actors
20 gadgets that changed the world