Markets Right Now: Late selling leaves stocks slightly lower
The Associated Press
May 08, 2019 01:12 PM
FILE – In this March 11, 2019, file photo specialist Peter Mazza, left, and trader James Riley work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Wednesday, May 8.
Richard Drew, File
The latest on developments in financial markets (all times local):
Stocks ended mostly lower on Wall Street after a late wave of selling wiped out what was left of a modest midday rally.
Internet and media companies fell the most Wednesday. Netflix sank 1.6% and Google’s parent company Alphabet lost 0.7%. Tripadvisor plunged 11.4% after missing analysts’ revenue estimates.
Trading was choppy a day ahead of the latest trade talks between the U.S. and China. Investors have been on edge since President Donald Trump threatened to impose higher tariffs on Chinese goods by Friday.
The S&P 500 fell 4 points, or 0.2%, to 2,879.
The Dow Jones Industrial Average edged up 2 points to 25,967. The Nasdaq fell 20 points, or 0.3%, to 7,943.
Bond prices fell. The yield on the 10 year Treasury rose to 2.48%.
Stocks brushed off early losses and were mixed in midday trading as gains in industrial companies were offset by losses elsewhere in the market.
Union Pacific, a railroad operator, rose 1% Wednesday while Netflix gave up 2.2%.
Major indexes wavered ahead of trade talks this week between the U.S. and China. Investors have been on edge since President Donald Trump threatened to impose higher tariffs on Chinese goods.
TripAdvisor shares dropped 12.4% after the vacation ratings company reported revenue that fell short of what analysts were expecting.
The S&P 500 fell 1 point to 2,883.
The Dow Jones Industrial Average edged up 8 points to 25,972. The Nasdaq fell 5 points, or 0.1%, to 7,958.
Bond prices fell. The yield on the 10 year Treasury rose to 2.46%.
Stocks are opening slightly lower Wednesday as investors watch for developments in the trade dispute between the U.S. and China.
A day after steep losses on Wall Street, the opening declines were modest. Health care companies and makers of household goods fell the most.
TripAdvisor shares dropped 8.3% after the vacation ratings company reported flat first quarter revenue.
Electronic Arts shares jumped 6% after the video game maker’s fourth quarter profit and revenue topped Wall Street estimates.
The S&P 500 fell 9 points, or 0.3%, to 2,875.
The Dow Jones Industrial Average lost 53 points, or 0.2%, to 25,911. The Nasdaq fell 27 points, or 0.4%, to 7,935.
Bond prices were little changed. The yield on the 10 year Treasury held steady at 2.44%.