more evidence of a slowing economy.
"The data has been mixed, it hasn’t been terrible, sort of a decline generally," said Thomas Martin, senior portfolio manager at Globalt Investments in Atlanta, Georgia. The defensive utilities, real estate and consumer staples rose the most among the 11 major S&P sectors as the falling bond yields made stocks that pay high dividends more attractive. The dividend yield for the broad S&P 500 and the 10-year Treasury are nearly identical.
The Atlanta Fed on Wednesday trimmed its second-quarter GDP growth view to 1.3 percent on an annualized rate, down from 1.5 percent on Monday. Among stocks, Symantec Corp surged 13.57 percent, the most on the S&P, after sources told Reuters that chipmaker Broadcom Inc is in advanced talks to buy the cybersecurity firm. Broadcom fell 3.5 percent.
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