Markets Right Now: US indexes end lower, erasing early gain - InfoNews

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Markets Right Now: US indexes end lower, erasing early gain

December 05, 2017 - 1:14 PM

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

4 p.m.

Stocks gave up an early gain and ended modestly lower on Wall Street, pulled down by weakness in industrial companies and banks.

UPS slumped 2.7 per cent Tuesday and JPMorgan Chase gave up 1.2 per cent.

Technology stocks were the only sector to rise, but they gave up much of the ground they had won earlier. Intel lost 2.4 per cent.

The Standard & Poor's 500 index fell 10 points, or 0.4 per cent, to 2,629.

The Dow Jones industrial average lost 109 points, or 0.5 per cent, to 24,180. The Nasdaq composite fell 13 points, or 0.2 per cent, to 6,762.

Small-company stocks fell more than the rest of the market. The Russell 2000 fell 15 points, or 1 per cent, to 1,516.

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

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11:45 a.m.

U.S. stock indexes ticked mostly higher at midday as some of the year's biggest winners picked themselves back up following recent stumbles.

Technology stocks recovered following a pullback over the past week.

That helped offset drops in telecom stocks and other parts of the market Tuesday.

Google parent Alphabet rose 2 per cent and Microsoft gained 1.5 per cent.

Banks were also higher. Wells Fargo jumped 3.3 per cent.

The Standard & Poor's 500 index was up 7 points, or 0.3 per cent, to 2,646.

The Dow Jones industrial average was little changed at 24,293. The Nasdaq composite rose 48 points, or 0.7 per cent, to 6,824.

Bond prices fell. The yield on the 10-year Treasury rose to 2.38 per cent.

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9:35 a.m.

Stocks are edging mostly higher in early trading on Wall Street, led by gains in health care companies.

Medical device maker Boston Scientific rose 1.7 per cent early Tuesday and drugmaker AbbVie rose 1.3 per cent.

Auto parts retailer AutoZone jumped 6.8 per cent after reporting a stronger quarter than anlaysts were expecting.

The Standard & Poor's 500 was little changed at 2,638.

The Dow Jones industrials rose 4 points, less than 0.1 per cent, to 24,294. The Nasdaq composite rose 25 points, or 0.4 per cent, to 6,800.

Bond prices fell. The yield on the 10-year Treasury rose to 2.38 per cent.

News from © The Associated Press, 2017
The Associated Press

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