LITTLE ROCK, Ark. (KTHV) -- U.S. stocks closing lower for a second straight day on Thursday as a sell-off in technology companies outweighed encouraging economic news.
Shares of Citigroup dropped 6 percent after the Federal Reserve denied the bank's plan to raise its dividend and buy back more stock.
Most other major banks won approval to raise their dividends. But better news on the economic front.
The government said the U.S. economy expanded at a 2.6 percent pace between October and December, -- that's slightly better than previously thought as consumer spending rose at the fastest pace in three years.
And in a separate report, the government said the number of people seeking U.S. unemployment benefits fell by 10-thousand last week to 311-thousand -- the lowest since late November.
Both reports were better than economists were expecting.
2nd Shoffner trial delayed
A federal judge on Thursday granting Shoffner's motion delaying the trial on charges that she used campaign funds for clothing, cosmetics and other personal items.
That trial was scheduled for March 31 is now set for Dec. 1.
Shoffner was convicted earlier this month on 14 bribery and extortion counts. She has pleaded not guilty to the 10 pending mail fraud charges.
Shoffner, a Democrat, resigned from office last year.
Harrah's Casino in Tunica will close
Another sign of falling fortunes in Mississippi's Tunica County gambling industry.
Caesars Entertainment saying it will close its Harrah's casino in Tunica on June 2, laying off 1300 workers in the process.
Harrah's is the largest casino in the county. Spokesman Gary Thompson said Harrah's is losing money and the taxes on the property are, quote, "onerous."
Caesars will keep its other two area casinos open, Horseshoe Tunica and Tunica Roadhouse Hotel and Casino as gambling revenue in the county has fallen for seven years now.
In fact, the Associated Press says Tunica casinos took in about $1.2 billion in 2006, that amount fell 38 percent to $723 million in 2013.