Markets Right Now: Stock wobble on latest economic scare

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

11:45 a.m.

Stocks are back near breakeven levels at midday after recovering from a mid-morning scare caused by another danger sign on the economy.

The latest bit of disturbing news came Thursday in the form of a surprisingly weak report on the U.S. services sector, which makes up the bulk of the economy.

The Institute for Supply Management said growth in the sector slowed sharply last month to its lowest level in three years. That followed troubling reports on hiring and manufacturing earlier this week that sent markets reeling.

The S&P 500 was little changed at 2,889.

The Dow Jones Industrial Average slipped 42 points, or 0.2%, to 26,036. The Nasdaq rose 21 points, or 0.3%, to 7,806.

Bond prices rose. The yield on the 10-year Treasury fell to 1.54%.

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9:35 a.m.

Stocks are stabilizing in early trading on Wall Street after a rough two first days of October.

Technology stocks, which have taken losses over the past two days as worries over trade and the economy flared up, did relatively well in the early going on Thursday. Chipmaker Nvidia climbed 1.1%.

There was mixed news on earnings.

Pepsi rose 2.1% after turning in results that easily beat analysts’ estimates, while Constellation Brands sank 4.1% after reporting a loss in its latest quarter.

The S&P 500 was little changed at 2,887.

The Dow Jones Industrial Average slipped 42 points, or 0.2%, to 26,036. The Nasdaq was flat at 7,786.

Bond prices rose. The yield on the 10-year Treasury fell to 1.58%.