Stocks open mostly lower; Fed meeting begins
- Article by: The Associated Press
- Associated Press
- June 17, 2014 - 9:00 AM
Stocks are opening mostly lower as Federal Reserve policymakers begin a two-day meeting.
Homebuilders fell after the U.S. government reported that the pace of U.S. home construction fell 6.5 percent in May from the previous month. D.R. Horton fell 2 percent.
The Dow Jones industrial average fell 17 points, or 0.1 percent, to 16,765 in the first few minutes of trading Tuesday.
The Standard & Poor's 500 index fell a point, or 0.1 percent, to 1,936. The Nasdaq composite edged up five points, 0.1 percent, to 4,325.
Bond prices fell after the government reported that consumer prices rose in May by the largest amount in more than a year, driven by higher costs for food and gasoline. The yield on the 10-year Treasury note rose to 2.64 percent.
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