Markets Right Now: Stocks are mostly higher at midday - InfoNews

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Markets Right Now: Stocks are mostly higher at midday

FILE- This April 5, 2018, file photo shows the facade of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Thursday, May 17. (AP Photo/Richard Drew, File)
May 17, 2018 - 9:00 AM

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

11:45 a.m.

Stocks shook off an early stumble and were mostly higher in midday trading, led by gains in energy and industrial companies.

Energy stocks were rising along with the price of crude oil. Valero Energy climbed 5 per cent and EOG Resources added 2.9 per cent.

Dillard's jumped 6.8 per cent after the department store chain's latest results beat Wall Street's expectations.

The S&P 500 index rose 3 points, or 0.1 per cent, to 2,726.

The Dow Jones industrial average is little changed at 24,764. The Nasdaq composite rose 9 points, or 0.1 per cent, to 7,407.

Bond prices fell. The yield on the 10-year Treasury edged up to 3.11 per cent.

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9:35 a.m.

Stocks are slightly lower in morning trading as losses for Cisco Systems weigh on technology companies.

Cisco, which sells routers, switches and software, lost 3.9 per cent Thursday morning after releasing its latest quarterly results.

Walmart edged up 0.5 per cent after its first-quarter profit and revenue surpassed analyst estimates.

Wells Fargo fell 1.2 per cent after the Wall Street Journal reported that some employees in its business banking division improperly altered information on documents related to corporate customers.

The S&P 500 index lost 3 points, or 0.1 per cent, to 2,718.

The Dow Jones industrial average shed 47 points, or 0.2 per cent, to 24,721. The Nasdaq composite dipped 10 points, or 0.1 per cent, to 7,388.

News from © The Associated Press, 2018
The Associated Press

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