Markets Right Now: Stocks are mixed in midday trading

AP News
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Posted: Jul 06, 2016 12:00 PM

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

11:45 a.m.

U.S. stocks are little changed as drug companies trade higher and phone and utility companies slip.

Investors continued to snap up bonds Wednesday, keeping yields on long-term Treasury notes near all-time lows. The prices of gold and silver, which are around two-year highs, rose further.

European markets were broadly lower and the pound fell further against the dollar.

The Dow Jones industrial average rose 3 points to 17,844.

The Standard & Poor's 500 index edged up a point to 2,090. The Nasdaq composite was 14 points, or 0.3 percent, to 4,837.

The yield on the 10-year Treasury note held steady at 1.38 percent.

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9:35 a.m.

Stocks are opening lower on Wall Street following more losses in Europe.

Phone companies fell the most in early trading Wednesday.

Banks continued to decline as bond yields remained near all-time lows. Bank of America and Citigroup each fell 2 percent.

European markets were broadly lower and the pound fell further against the dollar.

The Dow Jones industrial average fell 83 points, or 0.5 percent, to 17,757.

The Standard & Poor's 500 index lost 11 points, or 0.5 percent, to 2,077. The Nasdaq composite fell 33 points, or 0.7 percent, to 4,788.

Bond prices were little changed. The yield on the 10-year Treasury note slipped to 1.36 percent, near its all-time low.