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April 26, 2016

Stocks slip as oil falls

NEW YORK (AP) — U.S. stocks slipped in quiet trading Monday as energy companies dropped with the price of oil. Metals and chemicals companies also fell. Company earnings remain weak, and Xerox and drugmaker Perrigo tumbled after reporting disappointing results and cutting their forecasts for the year.

Stocks looked like they were headed for big losses in the morning, as the Dow Jones industrial average dropped as much as 148 points. Stocks recovered most of those losses over the last hours of trading. Investors traded less than usual as they looked through a weak group of company earnings and prepared for the latest Federal Reserve meeting, which will conclude Wednesday.


 
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