MARKET PULSE-Smithfield Foods, Trina Solar, Stewart Enterprises

Wed May 29, 2013 1:39pm EDT
 
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(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, click on )

May 29 (Reuters) - Some U.S. stocks on the move on Wednesday:

WALL ST DROPS MORE THAN 1 PERCENT ON FED STIMULUS WORRIES

U.S. stocks retreated from record levels on concerns that the U.S. Federal Reserve may start to ease up on its economy-boosting stimulus program. On the Dow, 24 out of 30 stocks were negative by midday.

The Dow Jones industrial average was down 137.08 points, or 0.89 percent, at 15,272.31. The Standard & Poor's 500 Index was down 14.20 points, or 0.86 percent, at 1,645.86. The Nasdaq Composite Index was down 24.45 points, or 0.70 percent, at 3,464.44.

** SMITHFIELD FOODS INC, $32.53, up 25 pct (1215 ET)

China's Shuanghui International said it would buy the largest U.S. hog producer for $4.7 billion in cash to help satisfy growing demand for U.S.-made pork in its home market, but the deal may raise concerns in the United States.   Continued...