NEW YORK — Stocks are pulling back and trimming their gains for May. The S&P 500 was 0.8% lower in early trading Wednesday and edging further below its record set last week. The Dow Jones Industrial Average was down 361 points, and the Nasdaq composite was 0.7% lower. American Airlines Group sank 11.5%, leading a slump for airline stocks, after cutting its profit forecast. ConocoPhillips fell 1.5% after saying it would buy Marathon Oil. Marathon Oil jumped 10%. Advance Auto Parts sank 9.
Dick's Sporting Goods rose 7.2% after it reported better earnings than analysts expected and raised its full-year profit guidance. Pet food and supply company Chewy also easily beat Wall Street's first-quarter profit targets and its shares climbed close to 6%. Elsewhere, in Europe at midday, France's CAC 40 slipped 1.1%, Britain's FTSE was down 0.4% and Germany's DAX declined 0.8%.
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Stock market today: Wall Street opens higher, adding to last week's gainsNEW YORK (AP) — U.S. stocks are ticking higher as last week’s rush of market-moving events gives way to what could be a quieter week. The S&P 500 was up 0.5% early Monday.
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Stock market today: Wall Street rises to add to last week’s gainsNEW YORK (AP) — U.S. stocks closed higher on Wall Street, adding to last week’s gains. The S&P 500 climbed 1% Monday. The Dow Jones Industrial Average rose 0.5%, and the Nasdaq composite added 1.2%.
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Stock market today: Wall Street edges higher at the start of a busy weekNEW YORK (AP) — Stocks edged higher as Wall Street readies for a week packed with potentially market-moving news. The S&P 500 rose 0.3% Monday. The Dow Jones Industrial Average climbed 0.4%, and the Nasdaq composite rose 0.3%.
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Stock market today: Wall Street opens lower after latest hotter-than-expected economic reportNEW YORK (AP) — Stocks are slipping after the latest hotter-than-forecast reading on the economy raised more worries about inflation and interest rates staying high. The S&P 500 was 0.
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