US stocks slide as energy prices tumble; Twitter falls
NEW YORK (AP) — U.S. stocks are slipping Monday as energy prices retreat from a rally late last week.
Materials stocks slump as paper and packaging companies lose ground.
Paper and packaging companies stumbled on concerns about product prices, which led to downgrades from several investment firms.
Tyco makes fire suppression systems and Johnson Controls makes ventilation systems, auto seating and car batteries.
While few deals have been announced in the first weeks of 2016, business technology company Intralinks expects companies will strike more deals in the first half of this year than they did last year.
Telecommunications stocks edged higher, the only S&P 500 industrial sector to rise.
Telecom stocks tend to rise during periods of market uncertainty.
Business economists became more pessimistic about profits and sales than they were last fall and expect slower economic growth, according to a survey by the National Association of Business Economists.
[...] most of the survey participants said their companies plan to raise wages in the first quarter.