Stocks turned lower on Wednesday, putting the 20,000 milestone further out of reach for the Dow Jones Industrial Average. The index stretched to within 19 points of the milestone when markets opened before retreating. The Nasdaq slid from a record opening of 5,499. On the economic front, the National Association of Realtors says the November pending home sales index declined 2.5% from the prior month. Galena Biopharma (GALE) shares soared after the company announced it received regulatory confirmation after meeting with the FDA about its GALE-401 Phase 3 trial. The hematology and oncology therapeutics company said the trial is expected to start before June of next year. And Delta Air Lines (DAL) says that it reached an agreement with Boeing (BA) to cancel 18 Boeing 787 Dreamliner aircraft orders. Based on list prices, the aircraft are valued at $4 billion. Delta inherited the orders when it combined with Northwest Airlines in 2008.
More from Video
Breaking down an approach to the long side of this biotech stock.
AMSC CEO discusses that and China challenges.
One of pharma's biggest CEO's talks M&A action on the exchange.
Citi overcame a mixed print to send its stock surging on Monday.