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Wall Street slips as a 7-day rally in the Standard & Poor’s 500 index peters out
NEW YORK, N.Y. – The stock market is closing slightly lower as the longest rally since July peters out.
The Dow Jones industrial average fell 25 points, or 0.2 per cent, to 15,300 Thursday. It had gained more than 400 points over the previous three days.
The Standard & Poor’s 500 index fell five points, or 0.3 per cent, to 1,683, ending a seven-day winning streak.
The Nasdaq composite fell nine points, or 0.2 per cent, to 3,715.
The Dow did better than other indices because of Walt Disney, which jumped after the company said it plans to buy back up to $8 billion of its own stock starting next year. Disney rose $1.55, or 2 per cent, to $65.49.
Two stocks fell for every one that rose on the New York Stock Exchange. Trading volume was average.
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