Markets Right Now: Stocks open slightly lower
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are opening slightly lower on Wall Street Tuesday. Health care companies are leading the gainers after AbbVie said it will pay $63 billion for Botox maker Allergan. AbbeVie shares fell nearly 12% and Allergan jumped 28%.
Energy stocks lost ground. Concho Resources fell 1.1% and National Oilwell Varco lost nearly 1%.
Investors awaited a speech by Fed Chairman Jerome Powell later Tuesday for any signal on the direction of interest rates.
The S&P 500 is down 2 points or 0.1% at 2,942. The Dow Jones Industrial Average is down 7 points at 26,718. The Nasdaq composite is down 16 points or 0.2% at 7,900. All three indexes are still showing solid gains for the month of June.
Bond prices rose. The yield on the 10-year Treasury fell to 1.99%.