Markets Right Now: Stocks end lower on Wall Street

AP News
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Posted: May 04, 2016 4:07 PM
Markets Right Now: Stocks end lower on Wall Street

NEW YORK (AP) — The Latest on developments in financial markets (all times local):

4:00 p.m.

Stocks are closing lower on Wall Street following signs of weakness in the U.S. job market and some disappointing corporate earnings.

Payroll processor ADP reported Wednesday that businesses added jobs at the slowest pace in three years last month.

Energy companies fell more than the rest of the market. ConocoPhillips sank 4 percent and Schlumberger fell 2 percent.

In earnings news, Priceline plunged 8 percent after releasing disappointing forecasts for the current quarter.

The Dow Jones industrial average fell 99 points, or 0.6 percent, to 17,651.

The Standard & Poor's 500 index lost 12 points, or 0.6 percent, to 2,051. The Nasdaq composite fell 37 points, or 0.8 percent, to 4,725.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.77 percent.

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11:45 a.m.

Stocks are lower on Wall Street following signs of weakness in the U.S. job market and some weak corporate earnings.

Payroll processor ADP reported Wednesday that businesses added jobs at the weakest pace in three years last month.

Industrial and materials companies fell more than the rest of the market in midday trading. General Electric fell 2 percent.

In earnings news, Priceline plunged 10 percent after releasing disappointing forecasts for the current quarter.

The Dow Jones industrial average fell 91 points, or 0.5 percent, to 17,659.

The Standard & Poor's 500 index lost 12 points, or 0.6 percent, to 2,051. The Nasdaq composite fell 33 points, or 0.7 percent, to 4,729.

Bond prices barely budged. The yield on the 10-year Treasury note was unchanged at 1.80 percent.

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9:35 a.m.

Stocks are opening lower on Wall Street as investors were discouraged by signs of weakness in the U.S. job market and some weak corporate earnings.

Payroll processing company ADP reported early Wednesday that U.S. businesses added jobs at the weakest pace in three years last month.

Banks and industrial companies fell more than the rest of the market in early trading. Citigroup gave back 2 percent.

Priceline slumped 9 percent after releasing disappointing forecasts for the current quarter.

The Dow Jones industrial average fell 119 points, or 0.7 percent, to 17,631.

The Standard & Poor's 500 index lost 12 points, or 0.6 percent, to 2,050. The Nasdaq composite fell 28 points, or 0.6 percent, to 4,733.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.79 percent.

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11:35 a.m.

Britain's FTSE 100 is leading European stock markets lower as the mining-heavy index suffers from the news that BHP Billiton is facing a $43 billion lawsuit from Brazil's Federal Public Prosecution for a dam break that killed 19 people and caused the worst environmental disaster in the country's history.

The index is down 1.3 percent at 6,102, with BHP itself trading 9 percent lower. Its peers Anglo American and Antofagasta, among others, have been caught up in the fallout from the revelations, and are trading 4 percent lower.

The mining sector has been facing the strain lately from a combination of factors, including the dollar's recent rebound and renewed global growth concerns, stemming primarily from the slowdown in China.

Elsewhere in Europe, Germany's DAX is down 0.7 percent at 9,854 while France's CAC-40 has fallen 0.7 percent to 4,341.