Stocks gave up early gains and closed lower, a downbeat end to the market’s first losing month since February. The S&P 500 ended with a loss of 0.2%, breaking a four-day winning streak. The Dow fell 168 points, or 0.5%. The Nasdaq edged up 0.1%. Treasury yields fell. The government reported that the measure of inflation that’s closely tracked by the Federal Reserve remained low last month. That’s the latest sign that price increases are cooling. Investors are hoping the Fed may be close to done raising interest rates. Discount retailer Dollar General sank 12.2% after cutting its profit forecast for the year.
A sharp drop for Wall Street capped a day of declines around the world Tuesday after discouraging data on China raised worries about the global economy. (AP Photo/Julia Nikhinson)
“There have been no conversations with anyone or either organization about an acquisition,” Bloomberg spokesman Ty Trippet said in a tweet Tuesday, which was retweeted by billionaire owner Michael Bloomberg. Axios reported on Friday that Bloomberg was interested in acquiring either Wall Street Journal parent company Dow Jones from Rupert Murdoch’s News Corp. or the Washington Post from Amazon.com’s Jeff Bezos, citing a source familiar with Bloomberg’s thinking.
Michael Bloomberg, the billionaire businessman and media mogul, is interested in acquiring either Wall Street Journal parent company Dow Jones or The Washington Post, according to a source familiar with his thinking. Bloomberg wants to expand his media empire and sees Dow Jones as his ideal fit, but he would buy the Post if Jeff Bezos were interested in selling, the source said.
The S&P 500 and Nasdaq composite each fell 0.7%, while the Dow Jones Industrial Average dropped 0.9%. Smaller company stocks fell even more, pulling the Russell 2000 index 1.2% lower. The indexes marked their first losing week in the last three.
It was a feeble ending to an up-and-down week of trading. The S&P 500 index lost 0.9%. The benchmark index had its second straight weekly loss. The Dow Jones Industrial Average fell 0.5% and the Nasdaq fell 0.9%.
Exclusives
U.S. stocks closed higher after a two-day losing streak with tech and bank stocks rallying.
Dow Falls 3.12, While Nasdaq Slides 4.15
The S&P 500 fell 6.61 points as the market takes a wait-and-see approach to earnings reports. Modest losses erased most of Tuesday’s slight gains.
