Markets Right Now: A mixed finish for stocks on Wall Street
Posted Jul 23, 2018 7:42 am.
Last Updated Jul 23, 2018 2:21 pm.
This article is more than 5 years old.
NEW YORK, N.Y. – The latest on developments in financial markets (all times local):
4 p.m.
Stocks are ending little changed on Wall Street as gains for banks are offset by losses in industrial companies and other sectors.
Banks rose Monday as bond yields moved sharply higher. JPMorgan Chase added 1.9 per cent.
Industrial companies were broadly lower. Illinois Tool Works slumped 7.2 per cent after forecasting earnings that were well below what analysts were expecting.
Fiat Chrysler fell 1.8 per cent after announcing the early departure of CEO Sergio Marchionne due to health issues.
The S&P 500 index rose 5 points, or 0.2 per cent, to 2,806.
The Dow Jones Industrial Average slipped 13 points, less than 0.1 per cent, to 25,044. The Nasdaq composite climbed 21 points, or 0.3 per cent, to 7,841.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.96 per cent.
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11:45 a.m.
Stocks are little changed in midday trading as gains for banks are offset by losses elsewhere in the market.
Illinois Tool Works slumped 7.5 per cent Monday after forecasting earnings that were well below what analysts were expecting.
Fiat Chrysler fell 1.9 per cent after announcing the early departure of CEO Sergio Marchionne due to health issues.
Hasbro soared 12.8 per cent after reporting results that easily beat analysts’ forecasts.
The S&P 500 index slipped 2 points to 2,804.
The Dow Jones Industrial Average lost 11 points, or 0.1 per cent, to 25,046. The Nasdaq composite edged up 8 points, or 0.1 per cent, to 7,829.
More stocks fell than rose on the New York Stock Exchange.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.95 per cent from 2.89 per cent.
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9:35 a.m.
Stocks are opening slightly lower on Wall Street, led by declines in technology companies and retailers.
Nvidia fell 1.8 per cent and Amazon lost 1.4 per cent early Monday.
Fiat Chrysler fell 2.8 per cent after announcing the early departure of CEO Sergio Marchionne due to health issues.
Tesla dropped 5.7 per cent after the Wall Street Journal reported that the company is seeking rebates from suppliers in order to raise cash.
The S&P 500 index fell 4 points, or 0.2 per cent, to 2,796.
The Dow Jones Industrial Average lost 24 points, or 0.1 per cent, to 25,034. The Nasdaq composite fell 40 points, or 0.5 per cent, to 7,782.
