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U.S. stocks declined
U.S. stocks declined, snapping a three-day advance for the Standard & Poor’s 500 Index, as commodities fell on concern about a Chinese economic slowdown.
Industrial and commodity shares slumped as China raised fuel prices by the most in two years and BHP Billiton Ltd. said the nation’s steel production is slowing.
Equity index Dow Jones Industrial Average showing mostly negative trend. Caterpillar (САТ, -2,50%) and Alcoa (AA, -1,7%). Positive trend shows the Bank of America Corp. (BAC, +2,20%).
Dow 13,172.76 -66.37 -0.50%, Nasdaq 3,063.33 -14.99 -0.49%, S&P 500 1,403.90 -5.85 -0.41%
Adobe sank 4.3 percent to $33.04. Excluding some costs, profit will be 57 cents to 61 cents a share in the second quarter, Adobe said. The midpoint of that range -- 59 cents -- missed the 60 cents predicted by analysts.
Tiffany rallied 6.7 percent to $73.28. The company is benefiting from stock-market gains that have prompted luxury consumers to resume jewelry purchases, a turnabout from January, when the retailer said weak spending from U.S. customers had slowed holiday sales.
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