Markets Right Now: US stocks slip in midday trading | iNFOnews | Thompson-Okanagan's News Source

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Markets Right Now: US stocks slip in midday trading

October 06, 2017 - 8:56 AM

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

11:45 a.m.

Stocks are fading from their record highs, putting the Standard & Poor's 500 index on track to break its longest winning streak in four years.

Energy stocks posted some of the biggest declines in midday trading Friday as the price of oil fell. Chevron fell 1.2 per cent.

Consumer-focused stocks were also falling. Wholesale club operator Costco sank 6 per cent after reporting a disappointing quarter.

The S&P 500 index fell 7 points, or 0.3 per cent, to 2,544.

The Dow Jones industrial average lost 37 points, or 0.2 per cent, to 22,738, and the Nasdaq composite fell 9 points, or 0.1 per cent, to 6,576.

Bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.36 per cent.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street as technology and phone companies take losses.

The declines early Friday threatened to put an end to the longest winning streak in four years for the Standard & Poor's 500 index.

Wholesale club operator Costco sank 5.2 per cent after reporting a disappointing quarter.

Bond prices fell, pushing yields higher. The yield on the 10-year Treasury note rose to 2.40 per cent.

The higher yields send banks higher. Citizens Financial rose 1.4 per cent.

The S&P 500 index fell 4 points, or 0.2 per cent, to 2,547.

The Dow Jones industrial average lost 21 points, or 0.1 per cent, to 22,753, and the Nasdaq composite fell 9 points, or 0.1 per cent, to 6,576.

News from © The Associated Press, 2017
The Associated Press

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