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Stocks slip, pulling S&P 500 below record high

Published on NewsOK Modified: May 28, 2014 at 3:11 pm •  Published: May 28, 2014
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NEW YORK (AP) — Stocks are closing mostly lower after setting a record high the day before.

Traders continued to put money into the bond market, pushing the yield on the 10-year Treasury note down to its lowest level in 11 months.

Dollar General dropped 3 percent after analysts at Deutsche Bank cut their forecast for the company's earnings, saying the company faces tough competition from Walmart and Target.

Toll Brothers rose 2 percent after reporting that its profits more than doubled as the home builder raised prices and delivered more houses.

The Standard & Poor's 500 index edged down two points, or 0.1 percent, to close at 1,909 Wednesday.

The Dow Jones industrial average fell 42 points, or 0.3 percent, to 16,633. The Nasdaq composite lost 12 points, or 0.3 percent, to 4,225.