NEW YORK (AP) — The latest on developments in financial markets (All times local):
Stocks ended slightly lower on Wall Street, pushing the Dow Jones industrial average to its fifth loss in a row.
Utilities and real estate companies fell the most on Thursday. Those high-dividend sectors have the most to lose from rising bond yields, which give investors other options for seeking income.
The yield on the 10-year Treasury rose to 2.47 percent. Yields have been rising as investors expect inflation to increase.
CSX soared 23 percent following news that the railroad operator is being targeted for a shakeup by an activist investor.
The Standard & Poor's 500 index lost 8 points, or 0.4 percent, to 2,263.
The Dow Jones industrial average gave back 72 points, or 0.4 percent, to 19,732. The Nasdaq composite declined 15 points, or 0.3 percent, to 5,540.
Indexes are trading mostly lower at midday on Wall Street as higher bond yields deal a blow to high-dividend stocks like real estate companies.
Railroad stocks were the exception Thursday, and moved higher thanks to better results and indications of a possible management shakeup at CSX.
CSX soared 18 percent following reports that an activist investor is planning to target the company.
Netflix jumped 5 percent after its results came in ahead of forecasts.
The Standard & Poor's 500 index lost 3 points, or 0.2 percent, to 2,268.
The Dow Jones industrial average gave back 30 points, or 0.2 percent, to 19,773. The Nasdaq composite declined 3 points, or 0.1 percent, to 5,552.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.47 percent.
Stocks are opening slightly higher on Wall Street, led by gains in industrial and basic materials companies.
Railroad stocks posted solid gains in early trading Thursday. CSX soared 17 percent following reports that it was being targeted for a shakeup by an activist investors.
Union Pacific gained 5 percent after reporting earnings that beat analysts' expectations.
Netflix jumped 6 percent after its results also came in ahead of forecasts.
The Standard & Poor's 500 index rose 1 point, less than 0.1 percent, to 2,272.
The Dow Jones industrial average edged up 2 points to 19,805. The Nasdaq composite rose 11 points, or 0.2 percent, to 5,567.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.46 percent.