The stock market edged lower on Monday as investors waited for news on the outlook for the Federal Reserve’s interest rate policy.
Encouraging corporate news failed to give the broader stock market a boost. Hewlett-Packard jumped after announcing that it is splitting itself in two. Medical-equipment maker Carefusion surged on word that it was being acquired by a rival.
The Dow Jones industrial average lost 17.78 points, or 0.1 per cent, to 16,991.91.
The Standard & Poor’s 500 index dropped 3.08 points, or 0.2 per cent, to 1,964.82.
The Nasdaq composite fell 20.82 points, or 0.5 per cent, to 4,454.80.
For the year:
The Dow is up 415.25 points, or 2.5 per cent.
The S&P 500 index is up 116.46 points, or 6.3 per cent.
The Nasdaq is up 278.21 points, or 6.7 per cent.