Indexes slide a bit for first time this week
A slide in technology companies weighed on U.S. stocks Thursday, pulling the market lower for the first time this week and erasing modest gains from a day earlier. Supermarket operators, beverage companies and other consumer-focused stocks also declined. Trading was mostly subdued as investors sized up the latest company earnings and deal news. The Standard & Poor’s 500 index lost 7.64 points, or 0.3 percent, to 2,500.60. The Dow Jones industrials fell 53.36 points, or 0.2 percent, to 22,359.23. Both indexes posted record highs on Wednesday. The Nasdaq composite lost 33.35 points, or 0.5 percent, to 6,422.69. The Russell 2000 index of smaller-company stocks gave up 1.24 points, or 0.1 percent, to 1,444.18. Benchmark U.S. crude fell 14 cents, or 0.3 percent, to settle at $50.55 a barrel on the New York Mercantile Exchange.
Layoffs at Alaska’s largest newspaper
Reporters, editors and other employees at Alaska’s largest newspaper have been laid off as the new owners attempt to stop the financial hemorrhaging that saw the paper losing $125,000 a week. Alaska Dispatch News co-Publisher Ryan Binkley wouldn’t disclose how many of the newspaper’s 212 employees have been laid off since the Binkley Co. was given the go-ahead from a bankruptcy judge to buy the Alaska Dispatch News on Sept. 11 for $1 million. However, he indicated this reflects a marked change ahead for the newspaper, formerly known as the Anchorage Daily News.