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US stocks see mixed fortunes as chemical firms struggle

Published 27/05/2016

Stocks on Wall Street had a mixed day
Stocks on Wall Street had a mixed day

US stocks closed mixed on Thursday after two straight days of gains as chemical companies and banks slid while utilities and phone companies gained.

Monsanto fell nearly 2% and Dow Chemical dropped 1.7%, although the chemical sector had been given a boost earlier in the week on news of a potential sale of Monsanto to Germany's Bayer.

Discount retailer Dollar Tree rose 13% after it raised its forecasts for the year.

The Dow Jones industrial average slid 23 points, or 0.1%, to 17,828. The Standard and Poor's 500 index was unchanged at 2,090. The Nasdaq composite rose seven points, or 0.1%, to 4,902.

Bond prices rose while the yield on the 10-year US Treasury note dipped to 1.83% from 1.87%.

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