June 11, 2014 -- 4:15 p.m. ET - 06/11/14
The major averages finished lower on Wednesday amid a round of profit taking. The Dow snapped a five-day winning streak as it declined 102 points from an all-timehigh to close at 16843. The S&P 500 fell nearly 7 points to 1943. The NASDAQ lost 6 points to 4331. News that the World Bank cut its global growth forecast to 2.8% from 3.2% prompted investors to take a breather from this years rally. Economic data was limited tothe monthly U.S. budget statement which showed the budget deficit shrank more than 6% from a year earlier to $130 billion in May. Overall, nine of the 10 S&P 500 sectors declined. Utilities and financials paced the retreat. Exelon lost 3.6% to $35.83. Shares of Bank of America fell 2% to $15.60.Industrials also weighed on the market, led by Boeings 2.3% drop to $134.11. Energy was the sole group to finish higher. Anadarko Petroleum rallied 4.2% to $108.33. Exxon Mobil added 0.6% to $102.07. NYSE Composite volume totaled more than 2.6 billion shares. On the NYSE, decliners beat advancers by 5-3 on issues and 9-5 on volume. The NASDAQ was 3-2 negative onissues but even on volume. Treasuries advanced for the first time in four sessions and the government sold $21 billion in 10-year notes. The 10-year note gained 3/32 to yield 2.63%. The 30-yearbond increased 10/32 to 3.46%. This information is obtained from sources and data considered to be reliable, but its accuracy and completeness is not guaranteed by Wells Fargo Advisors.Wells FargoAdvisors is the trade name used by two separate registered broker-dealers: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, non-bank affiliates of Wells Fargo & Company.