Stocks close down as rally fizzles
Traders work on the floor of the New York Stock Exchange on Wednesday in Manhattan. (Sept. 11, 2013) Credit: Getty Images
The stock market closed slightly lower Thursday as the longest rally since July petered out.
At the close on Wall Street, the Dow Jones industrial average had edged down 25.9 points to 15,300.6. The Dow had gained 404 points over the previous three days and is still up 3.3 percent this month.
The last three days of gains have helped the Dow recover the bulk of its losses in August, the worst month for the blue-chip index since May 2012.
The Standard & Poor's 500 index closed down 0.3 percent at 1,683.4 after rising the previous seven days.
The Nasdaq composite fell 0.2 percent to 3,716. That dip followed a sharp decline Wednesday caused by a sell-off in Apple's stock.
The Dow did better than other indexes 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 percent, to $65.49.
In other trading, the price of crude oil rose $1.04 to $108.60 a barrel. Gold fell $32.20 to $1,330.60 an ounce. The yield on the 10-year Treasury note was 2.91 percent, unchanged from late Wednesday.
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