Northern Wyoming Daily News - Serving the Big Horn Basin for over 100 years

By ALEX VEIGA
AP Business Writer 

US stocks head mostly lower as early gains fade

The major U.S. stock indexes closed mostly lower Thursday after a midday gain faded by late afternoon.

 

February 2, 2018



The major U.S. stock indexes closed mostly lower Thursday after a midday gain faded by late afternoon.

Retailers, restaurant chains and other consumer-focused companies accounted for much of the market’s pullback. The losses outweighed solid gains by financial stocks, which got a boost as climbing bond yields set the stage for higher interest rates on mortgages and other loans.

Even though January was the best month for the stock market since March 2016, the swift rise in the yield on the 10-year Treasury note, which is a benchmark for interest rates, has stoked investor worries that high...



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