Stocks Slip on Worries About Market's Course
U.S. stocks declined yesterday on concern that share prices already reflect prospects for earnings growth.</br></br>"There is some news that suggests the torrid pace of the third quarter will not be maintained intact in the fourth," said J. Thomas Madden, vice president of investment management at Federated Investors. "That's given investors some cause for pause."</br></br>The S&P 500-stock index fell 5.77 points, or 0.5 percent, to 1053.25. The Nasdaq composite index slipped 9.74, or 0.5 percent, to 1957.96. The Dow Jones industrial average dropped 19.63, or 0.2 percent, to 9838.83, its first drop in seven days.</br></br>Aon shares fell $1.17, to $20.97, after the insurance brokerage reported a decrease in quarterly profit.</br></br>Kodak climbed 10 cents, to $24.31, after a Federal Trade Commission document showed that billionaire Carl C. Icahn has received regulatory approval to buy as much as $500 million worth of Kodak in securities or assets.