Stocks edge lower on Wall Street as rally momentum cools

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks edged lower in afternoon trading on Wall Street Thursday as investors tapped the brakes after three days of gains. The S&P 500 fell 0.4%, the Dow Jones Industrial Average rose 0.2% and the Nasdaq fell 1.2%. The pullback came after investors pushed the S&P 500 index up 3.6% over the first three days of the week, largely in response to easing worries about the omicron variant of the COVID-19 virus. CVS Health rose after raising its dividend and issuing a solid forecast. The yield on the 10-year Treasury fell slightly to 1.49%.