U.S. stocks opened lower on Tuesday, with the Dow Jones Industrial Average fell below 17,000. The Dow Jones Industrial Average lately dropped 81.21 points, or 0.48%, to 16,943.00. The S&P 500 shed 9.06 points, or 0.46%, to 1,968.59. The Nasdaq Composite lost 30.76 points, or 0.69%, to 4,420.77.
Small-business optimism dropped in June on a big decline in those who expect the economy to improve, according to a survey released Tuesday. The National Federation of Independent Business said its small-business optimism index fell 1.6 points to 95, as six of 10 components fell and only two rose.
AbbVie Inc. (ABBV) made a fourth offer to buy Shire Plc (SHP), raising the price to about 30.1 billion pounds ($51.5 billion) in an effort to bring Shire to the negotiating table.
Crumbs Bake Shop said Monday it is shutting down all its locations, including 10 in New Jersey. The cupcake shop was founded in 2003 and went public in 2011, but Nasdaq suspended trading of Crumbs shares last week, according to a report from CBS 2 New York.
Belgium’s finance minister has invited the chief executive of BNP Paribas to meet him and explain what will happen in the aftermath of the French bank’s agreement to pay out nearly $9 billion for violating U.S. sanctions against Sudan, Iran and Cuba.
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