Markets Right Now: Tech stocks pull US indexes lower | iNFOnews | Thompson-Okanagan's News Source

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Markets Right Now: Tech stocks pull US indexes lower

Trader Gordon Charlop works on the floor of the New York Stock Exchange, Monday, July 30, 2018. Stocks are off to a mixed start on Wall Street as gains in banks and energy companies are offset by losses in other sectors. (AP Photo/Richard Drew)
July 30, 2018 - 9:07 AM

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

11:45 a.m.

Another slump in technology stocks is pulling major U.S. indexes lower, offsetting gains in energy companies.

Twitter fell another 6.4 per cent in midday trading Monday, following a 20.5 per cent nosedive on Friday after the company reported a decline in monthly users.

Heavy machinery maker Caterpillar rose 2.4 per cent after reporting a strong quarter. Asset manager Affiliated Managers Group jumped 4.2 per cent after its own results surpassed analysts' estimates.

The S&P 500 index fell 11 points, or 0.4 per cent, to 2,807.

The Dow Jones Industrial Average lost 64 points, or 0.3 per cent, to 25,383. The Nasdaq composite fell 83 points, or 1.1 per cent, to 7,653.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.97 per cent.

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9:35 a.m.

Stocks are off to a mixed start on Wall Street as gains in banks and energy companies are offset by losses in other sectors.

Phone companies were also higher in early trading Monday. AT&T rose 1.9 per cent.

Company earnings were again a focus for investors.

Heavy machinery maker Caterpillar rose 1 per cent after reporting a strong quarter. Asset manager Affiliated Managers Group jumped 4.2 per cent after its own results surpassed analysts' estimates.

The S&P 500 index fell 2 points, or 0.1 per cent, to 2,816.

The Dow Jones Industrial Average gained 17 points, or 0.1 per cent, to 25,465. The Nasdaq composite slipped 38 points, or 0.5 per cent, to 7,699.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.99 per cent.

News from © The Associated Press, 2018
The Associated Press

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