Markets Right Now: Stocks turn mixed at midday
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks gave up early gains and were little changed at midday on Wall Street as losses for health care companies offset gains in technology.
Merck slipped 1.1% Friday while Microsoft rose 1.4% after blowing past analysts’ earnings forecasts thanks to big gains in its cloud computing business.
Markets have been volatile throughout the week as investors assess corporate earnings reports. The S&P 500 closed at a record high on Monday and then wobbled from there.
USA Today publisher Gannett soared 20% after The Wall Street Journal reported that it was nearing a deal to combine with fellow newspaper publisher GateHouse Media.
The S&P 500 index slipped 1 point to 2,993.
The Dow Jones Industrial Average rose 43 points, or 0.2%, to 27,267. The Nasdaq was little changed at 8,205.
Industrial and technology companies are leading stocks slightly higher on Wall Street, narrowing the market’s losses for the week.
Microsoft rose 2.1% in early trading Friday after reporting blowout earnings driven by gains in its cloud computing business.
USA Today publisher Gannett soared 21% after The Wall Street Journal reported that it was nearing a deal to combine with fellow newspaper publisher GateHouse Media.
Markets have been drifting for much this week after setting a record high on Monday.
The S&P 500 index rose 9 points, or 0.3%, to 3,004.
The Dow Jones Industrial Average rose 104 points, or 0.4%, to 27,323. The Nasdaq climbed 31 points, or 0.4%, to 8,239.
Bond prices fell. The yield on the 10-year Treasury rose to 2.05%.