US stock market indexes drift mostly lower as an early gain fades; Lorillard and P&G fall

The Associated Press 0

NEW YORK, N.Y. – Major U.S. stock indexes are ending mostly lower as a four-day rally peters out.

The market started the day higher Wednesday, then moved between small gains and losses in midday and afternoon trading.

By the close of trading the Dow Jones industrial average was down 30 points, or 0.2 per cent, at 15,963. It had been up as much as 42 points.

The Standard & Poor’s 500 index edged down half a point to 1,819. The Nasdaq composite increased 10 points, or 0.2 per cent, to 4,201.

Tobacco company Lorillard fell 5 per cent, the most in the S&P 500 index, after missing analysts’ estimates for income and revenue.

Procter & Gamble fell 2 per cent after the company lowered its sales and earnings outlook due to declines in emerging market currencies.

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