Stocks slip below record levels as investors assess corporate news; FMC drops on earnings

6/23/2014
ASSOCIATED PRESS
Wall-Street-732

Specialist James Sciulli works at his post on the floor of the New York Stock Exchange Monday, June 23, 2014. Stocks are edging lower in early trading after indexed closed last week at record highs. (AP Photo/Richard Drew)

ASSOCIATED PRESS

NEW YORK — U.S. stock indexes are closing slightly below the record levels they hit last week as investors assess a batch of corporate news.

Wisconsin Energy fell 4 percent and General Electric fell 1 percent after the companies said they had made acquisitions. Chemicals maker FMC fell 5 percent after cutting its earnings forecast after farmers used less of its products due to an unusually harsh winter.

The Standard & Poor’s 500 index fell a fraction of a point, less than 0.1 percent, to close at 1,962 today.

The Dow Jones industrial average dropped fell 10 points, also less than 0.1 percent, to 16,937. The Nasdaq composite index was little changed at 4,368.

Bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.62 percent from 2.60 percent.