REFORMERS NEWS NETWORK

US stocks fall ahead of British vote
US stocks fall ahead of British vote
     
Wall Street stocks retreated Tuesday amid investor caution ahead of this week’s British general election and congressional testimony from fired former FBI chief James Comey.

Analysts said the trend in the US market was part of a pullback in most global bourses because of the potential impact of the those events, both of which happen Thursday.

“The market might be a little on edge” ahead of Thursday, said Bill Lynch, director of investment at Hinsdale Associates, who added that there was little significant economic data for the market to focus on Tuesday.

The Dow Jones Industrial Average dropped 0.2 percent to close at 21,136.23.

The broad-based S&P 500 shed 0.3 percent to end the session at 2,429.33, and the tech-rich Nasdaq Composite Index also fell 0.3 percent to finish at 6,275.06.

Among blue-chip companies, Boeing, McDonald’s, Nike and Wal-Mart Stores lost one percent or more. But oil producers ExxonMobil and Chevron gained 1.4 percent and 1.0 percent, respectively, as oil prices advanced.

Gold producers Freeport-McMoRan and Barrick Gold jumped 3.8 percent and 5.3 percent as gold prices rose.

Macy’s sank 8.2 percent after executives warned at an investor day of lower profit margins in the current quarter and year. Other retailers also were pulled lower, including Target, which lost 1.9 percent and Nordstrom, which tumbled 3.6 percent.