MARKET PULSE-Smithfield Foods, Trina Solar, Stewart Enterprises, Alvarion
(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) -
WALL ST RETREATS FROM RECORD LEVELS ON FED WORRIES
U.S. stocks retreated from record levels on Wednesday on concerns that the U.S. Federal Reserve may start to ease up on its economy-boosting stimulus program.
The Dow Jones industrial average was down 137.08 points, or 0.89 percent, The Standard & Poor's 500 Index was down 14.20 points, or 0.86 percent, and the Nasdaq Composite Index was down 24.45 points, or 0.70 percent.
** 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.
The stock was the top percentage gainer on the New York Stock Exchange. About 6.5 million shares changed hands by 1310 ET, more than 10 times their average 10-day volume. Continued...