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VOL. 40 | NO. 32 | Friday, August 5, 2016
Stocks closing lower on Wall Street
The Associated Press
NEW YORK (AP) — Stocks are closing lower on Wall Street Wednesday as energy companies fall with the price of oil and banks and health care stocks slide. Phone company stocks are also up.
Earnings reports drove much of the trading. Drugmaker Perrigo sank 10 percent and solar power company SunPower lost almost 30 percent.
The price of crude oil fell 2.5 percent to $41.71 a barrel in New York.
Consumer stocks fared better. Ralph Lauren shares jumped 9 percent.
The Dow Jones industrial average fell 38 points, or 0.2 percent, to 18,496. The Standard & Poor's 500 index fell 6 points, or 0.3 percent, to 2,175. The Nasdaq composite fell 21 points, or 0.4 percent, to 5,205.
Bond prices rose. The yield on the 10-year Treasury note fell to 1.51 percent.