Stocks Closed Lower After 4-Day Rally

U.S. stocks ended lower on Wednesday after a four-day rally, as an absence of economic catalysts put technicals in focus. The Dow Jones Industrial Average lost 42.32 points, or 0.25%, to 16,633.18. The S&P 500 was off 2.13 points, or 0.11%, to 1,909.78. The Nasdaq Composite was down 11.99 points, or 0.28%, at 4,225.08.

Alibaba Group Holding Ltd. plans to disclose the 28 people who will effectively control the company in an update to its initial public offering filing, people familiar with its plans said, a revelation that may ease concerns about its unusual governance structure.

Wal-Mart Stores Inc.’s new chief executive plans to ramp up dealmaking and implement new technologies such as 3-D printing to change the shopping experience in its stores.

McDonald’s Corp. (MCD) is planning to return between $18 billion and $20 billion to shareholders from 2014 to 2016, either in the form of dividends or by buying back shares, Chief Executive Don Thompson told an investor conference Wednesday.

About the Author

has written 14556 stories on this site.

Copyright © 2012 Nine Stocks