Markets Right Now: Late buying burst leaves stocks higher
September 10, 2019 02:21 PM
NEW YORK (AP) - The latest on developments in financial markets (all times local):
A late burst of buying left stocks mostly higher on Wall Street after indexes spent much of the day lower.
Apple rose 1.2% Tuesday after announcing a new slate of iPhones and other products.
Apple also announced a $5 a month video service, which would be cheaper than rival offerings. Netflix and Disney each fell 2.2%.
The S&P 500 edged up just under 1 point to 2,979.
The Dow Jones Industrial Average rose 73 points, or 0.3%, to 26,909. The Nasdaq fell 3 points, less than 0.1%, to 8,084.
Small-company stocks rose much more than the rest of the market. The Russell 2000 index climbed 18 points, or 1.2%, to 1,542.
Bond prices fell sharply, sending yields higher. The yield on the 10-year Treasury rose to 1.73%.
Stocks moved broadly lower in midday trading on Wall Street as investors again back away from technology companies.
The tech sector led the losses in the S&P 500 for a second straight day Tuesday.
Microsoft fell 1.7% and PayPal shed 2.1%. The shift contrasts with the last few weeks, when the sector drove much of the market gains.
Health care stocks were also among the biggest losers. Merck shed 2.8% and Abbott fell 3.1%.
The S&P 500 slipped 12 points, or 0.4%, to 2,965.
The Dow Jones Industrial Average fell 18 points, or 0.1%, to 26,816. The Nasdaq dropped 41 points, or 0.5%, to 8,045.
Small-company stocks bucked the downward trend and rose.
Bond prices fell. The yield on the 10-year Treasury rose to 1.68%.
Stocks are opening lower on Wall Street Tuesday as technology stocks fall for a second straight day.
Microsoft fell 1.6% while PayPal dropped 3.5%.
Consumer-focused stocks also fell. Ford dropped 5% after credit ratings service Moody's cut the auto company's credit rating to junk status.
Bond prices fell. The yield on the 10-year Treasury rose to 1.65%. That gave a boost to banks, as higher yields allow them to earn more from lending. JPMorgan rose 1.3%.
The S&P 500 slipped 19 points, or 0.7%, to 2,958.
The Dow Jones Industrial Average fell 71 points, or 0.3%, to 26,763. The Nasdaq dropped 73 points, or 0.9%, to 8,014.
Updated: September 10, 2019 02:21 PM
Created: September 10, 2019 02:12 PM
Copyright 2019 The Associated Press. All rights reserved.