Markets Right Now: Stocks drift lower after an early gain - InfoNews

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Markets Right Now: Stocks drift lower after an early gain

March 12, 2018 - 8:56 AM

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

11:45 a.m.

Major U.S. stocks indexes gave up an early gain and were broadly lower in midday trading on Wall Street.

Boeing and other industrial companies fell Monday, giving back some of the ground they won late last week.

Banks were also lower, but technology stocks rose. Bank of New York Mellon gave back 1.3 per cent and Nvidia, a chipmaker, rose 2.5 per cent.

The S&P 500 rose fell 2 points, less than 0.1 per cent, to 2,784.

The Dow Jones industrial average gave back 132 points, or 0.5 per cent, to 25,199. The Nasdaq composite gained 25 points, or 0.3 per cent, to 7,586.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.88 per cent.

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9:35 a.m.

Stocks are opening slightly higher on Wall Street, led by gains in retailers and technology companies.

Starbucks rose 1.4 per cent early Monday and Micron Technology rose 5.3 per cent.

Several stocks were moving on deal news.

Johnson Controls was up 1.6 per cent after saying it would consider selling a business that makes batteries for vehicles.

Optical communications company Oclaro soared 23 per cent after agreeing to be acquired by Lumentum Holdings.

The S&P 500 rose 7 points, or 0.3 per cent, to 2,793.

The Dow Jones industrial average rose 71 points, or 0.3 per cent, to 25,410. The Nasdaq composite gained 26 points, or 0.4 per cent, to 7,588, another record high.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.88 per cent.

News from © The Associated Press, 2018
The Associated Press

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