Markets Right Now: US stock indexes turn mixed
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are mixed in midday trading as the market shrugs off an early stumble.
Retailers including Kohl’s and Macy’s rose in midday trading on Wall Street Monday, as did industrial and financial stocks, but technology companies fell.
The market had headed lower in early trading, on track to extend sharp losses from last week, as new economic data stoked investors’ worries over slowing global growth.
Plunging bond yields also drove the selling last week.
The S&P 500 index was little changed at 2,800.
The Dow Jones Industrial Average was also little changed at 25,504. The Nasdaq edged down 11 points, or 0.1 percent, to 7,631.
Bond prices continued to rise. The yield on the 10-year Treasury note fell to 2.43 percent.
Stocks edged higher in early trading on Wall Street as gains for banks and technology companies offset losses elsewhere in the market.
Bank of America rose 1 percent early Monday and railroad operator Union Pacific climbed 1.1 percent.
Health care stocks were mostly lower. Johnson & Johnson gave back 0.5 percent.
Media company Viacom rose 7.5 percent after the company reached a carriage deal with AT&T that would avert a blackout of its channels including Comedy Central and MTV to AT&T customers.
The S&P 500 index rose 4 points, or 0.1 percent, to 2,804.
The Dow Jones Industrial Average rose 39 points, or 0.2 percent, to 25,540. The Nasdaq edged up 4 points, or 0.1 percent, to 7,645.
The yield on the 10-year Treasury note held steady at 2.45 percent.