Markets Right Now: US markets end lower in quiet trading

AP News
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Posted: Aug 30, 2016 4:05 PM

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

4:00 p.m.

Stocks are closing slightly lower as a summer slowdown continues on Wall Street.

Hershey slumped 11 percent and Mondelez rose 4 percent Tuesday after Mondelez, which makes Oreo cookies and other products, said it would no longer pursue a combination with Hershey.

Apple slipped 1 percent after the company was hit with a big tax bill in Europe.

The Dow Jones industrial average fell 48 points, or 0.3 percent, to 18,454.

The Standard & Poor's 500 index lost 4 points, or 0.2 percent, to 2,176. The Nasdaq composite fell 9 points, or 0.2 percent, to 5,222.

Trading was quiet ahead of the Labor Day holiday weekend in the U.S.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 1.57 percent.

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11:45 a.m.

Stocks are edging lower at midday as a summer slowdown continues on Wall Street.

Hershey slumped 11 percent and Mondelez rose 4 percent Tuesday after Mondelez, which makes Oreo cookies and other products, said it would no longer pursue a combination with Hershey.

Apple slipped 1 percent after the company was hit with a big tax bill in Europe.

The Dow Jones industrial average slipped 50 points, or 0.3 percent, to 18,453.

The Standard & Poor's 500 index lost 4 points, or 0.2 percent, to 2,176. The Nasdaq composite fell 12 points, or 0.2 percent, to 5,220.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.57 percent.

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9:35 a.m.

Stocks are wavering between small gains and losses in early trading as a summer slowdown continues on Wall Street.

Hershey slumped 11 percent and Mondelez rose 4 percent in early trading Tuesday after Mondelez, which makes Oreo cookies and other products, said it would no longer pursue a combination with Hershey.

Energy companies were moving slightly higher as the price of crude oil rose. Exxon Mobil gained 0.5 percent.

The Dow Jones industrial average slipped 18 points, or 0.1 percent, to 18,484

The Standard & Poor's 500 index lost a point to 2,178. The Nasdaq composite was little changed at 5,232.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.57 percent.