Markets Right Now: Stocks slip, ending streak for the Nasdaq | iNFOnews | Thompson-Okanagan's News Source

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Markets Right Now: Stocks slip, ending streak for the Nasdaq

October 09, 2017 - 1:14 PM

NEW YORK - The latest on developments in financial markets (All times local):

4 p.m.

U.S. stocks are ending slightly lower on Wall Street, ending a nine-day winning streak for the Nasdaq composite.

Health care companies fell more than the rest of the market Monday.

Companies that distribute or sell prescription drugs fell again as investors continued to worry about Amazon entering the prescription drug business. Pharmacy benefits manager Express Scripts fell 5 per cent.

General Electric skidded 3.9 per cent after announcing more changes in its leadership.

Trading was quiet because of the Columbus Day holiday. Bond trading was closed.

The Standard & Poor's 500 index fell 4 points, or 0.2 per cent, to 2,544. The Dow Jones industrial average fell 12 points, or 0.1 per cent, to 22,761. The Nasdaq composite lost 10 points, or 0.2 per cent, to 6,579, its first loss since September 25.

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11:45 a.m.

U.S. stocks are mixed in midday trading on Wall Street as health care and industrial companies fall while technology companies gain ground.

General Electric fell 3 per cent Monday after announcing more changes in its leadership. Tesla dropped 1.8 per cent as investors worry about production problems at the electric car maker.

Major stock indexes continued to trade around all-time highs after a long winning streak for the market that ended on Friday.

Trading on the stock market was relatively quiet, and bond trading was closed for the Columbus Day holiday.

The Standard & Poor's 500 index was down a fraction of a point at 2,548. The Dow Jones industrial average rose 11 points, or 0.1 per cent, to 22,785. The Nasdaq composite edged up 5 points, or 0.1 per cent, to 6,595.

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9:35 a.m.

Stocks are opening higher slightly higher as technology and energy companies inch upward.

Seagate Technology rose 1.2 per cent in early trading Monday and Chevron rose 0.5 per cent.

General Electric fell 2 per cent after the company named a new director to its board and announced the departure of its chief financial officer on Friday.

The Standard & Poor's 500 index rose 1 point at 2,550. The Dow Jones industrial average rose 23 points, or 0.1 per cent, to 22,798. The Nasdaq composite edged up 5 points, or 0.1 per cent, to 6,595.

News from © The Associated Press, 2017
The Associated Press

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