Markets Right Now: Stocks are off to a mixed start

AP News
Posted: Jul 21, 2016 9:45 AM

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

9:35 a.m.

Stocks are off to a mixed start on Wall Street as traders absorb the latest corporate deal and earnings news.

Bond yields continued to rise early Thursday, knocking high-dividend stocks such as utilities and phone companies lower. Those sectors have been a favorite of investors this year and have risen far more than the rest of the market.

In earnings news, chipmaker Intel sank 4 percent after reporting a sharp drop in earnings late Wednesday. Joy Global soared 18 percent after agreeing to be acquired by the Japanese construction and mining company Komatsu

The Standard & Poor's 500 index was little changed at 2,173.

The Dow Jones industrial average slipped 25 points, or 0.1 percent, to 18,568. The Nasdaq composite climbed 9 points, or 0.2 percent, to 5,099.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.61 percent.