Stocks slip as investors anticipate higher rates

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Associated Press

Posted on March 20, 2014 at 10:02 AM

Updated Thursday, Mar 20 at 10:04 AM

NEW YORK (AP) — Stocks are slightly lower in early trading as investors anticipate higher interest rates.

The Standard & Poor's 500 index fell five points, or 0.3 percent, to 1,855 in the first few minutes of trading Thursday.

The Dow Jones industrial average fell 59 points, or 0.4 percent, to 16,163. The Nasdaq composite fell 16 points, or 0.4 percent, to 4,290.

Guess fell after the apparel maker reported lower quarterly income and forecast a loss for its current quarter.

ConAgra Foods reported that its quarterly income nearly doubled as the company continues to benefit from the acquisition of private-label food maker Ralcorp.

Bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.78 percent from 2.77 percent.

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