NEW YORK (AP) - U.S. stocks barely budged Thursday as investors moved cautiously after two days of large gains. Utilities and phone companies rose the most thanks to a decline in bond yields, while chemicals companies and banks surrendered some of their recent gains.
Stocks alternated between small losses and gains and moved more on individual news than broad trends. Retailers Dollar Tree and Costco rose after they reported strong quarterly results. That made them exceptions in a difficult quarter for department stores, watch sellers, and clothing companies.
The Dow Jones industrial average fell 23.22 points, or 0.1 percent, to 17,828.29. The Standard & Poor's 500 index lost 0.44 points to 2,090.10. The Nasdaq composite index added 6.88 points, or 0.1 percent, to 4,901.77.