Banks and energy companies are taking some of the biggest losses. Stocks fell the previous day after weak car sales raised some worries about spending on other types of purchases.
NEW YORK — U.S. stocks are lower again Tuesday morning after the Commerce Department said a measurement of business investment fell in February. Banks and energy companies are taking some of the biggest losses. Stocks fell the previous day after weak car sales raised some worries about spending on other types of purchases.
KEEPING SCORE: The Standard & Poor's 500 index skidded 6 points, or 0.3 percent, to 2,352 as of 10:15 a.m. Eastern time. The Dow Jones industrial average gave up 27 points, or 0.1 percent, to 20,623. The Nasdaq composite fell 10 points, or 0.2 percent, to 5,884. The Russell 2000 index of small-company stocks slipped less than 1 point to 1,368.
SLOW START: The Commerce Department said orders to U.S. factories continued to grow in February, but a measurement of business investment spending decreased for the first time since September.
Energy companies traded lower. National Oilwell Varco lost 54 cents, or 1.4 percent, to $39.14 and Exxon Mobil gave up 62 cents to $81.44. Banks also lagged the market, as Bank of America fell 34 cents, or 1.4 percent, to $23.25 and KeyCorp declined 20 cents, or 1.1 percent, to $17.53.
QVC IS BUYING: Alaskan telecommunications company General Communications agreed to be bought by online commerce holding company Liberty Interactive for $32.50 per share, or about $1.1 billion. Liberty said it will combine General Communications with some of its other businesses, including Liberty Broadband, Charter and LendingTree, and will spin them off into a separate company. After that, Liberty Interactive will change its name to QVC Group and will focus on online retail.
General Communications jumped $12.33, or 60 percent, to $32.89 and Liberty Interactive added 85 cents, or 4.2 percent, to $20.82.