Opening Bell: U.S. Stocks Drop as Bonds Rally; LinkedIn Shares Upgraded

U.S. stocks moved lower on Thursday, sparked by worries about global growth and the European Central Bank's commencement of its corporate bond buying program.

Author:: Scott Gamm
Publish date:: Jun 9, 2016 9:46 AM EDT

U.S. stocks moved lower on Thursday, as a global rally in bonds continued, sparked by worries about global growth and the European Central Bank's commencement of its corporate bond buying program. Shares of The J.M. Smucker Company (SJM) - Get Report rose after beating analysts' estimates on both the top and bottom lines, thanks to a 25 percent increase in sales during its fourth quarter. The company also reported better than expected full year earnings guidance. LinkedIn (LNKD) shares jumped after analysts at RBC Capital upgraded the stock to outperform from sector perform with a $160 price target. The stock trades near $134 a share. An RBC survey found recruiters are expected to boost spending on the platform in the next year. TheStreet's Scott Gamm reports from Wall Street.