Markets Right Now: Stocks end lower on Wall Street

AP News
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Posted: Sep 29, 2016 4:05 PM

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

4:00 p.m.

Stocks are ending lower on Wall Street, led by drops in drugmakers and banks.

Mylan slumped 4 percent Thursday after senators called for an investigation into the company's pricing policies for the EpiPen allergy shot.

Banks fell as worries grew about Deutsche Bank, Germany's biggest lender. The bank's stock plunged 7 percent in heavy trading.

ConAgra, which makes Chef Boyardee products, jumped 8 percent after reporting strong results.

The Dow Jones industrial average fell 195 points, or 1 percent, to 18,143.

The Standard & Poor's 500 index fell 20 points, or 0.9 percent, to 2,151. The Nasdaq composite lost 49 points, or 0.9 percent, to 5,269.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.56 percent.

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11:45 a.m.

Stocks are moving slightly lower in midday trading on Wall Street as declines in health care and high-dividend companies offset gains in consumer goods companies.

Real estate and utilities fell Thursday, partly due to a rise in bond yields.

The price of oil rose again, a day after soaring on news of a preliminary agreement among OPEC nations to cut production for the first time in eight years.

PepsiCo and ConAgra rose after releasing strong earnings reports.

The Dow Jones industrial average slipped 34 points, or 0.2 percent, to 18,304.

The Standard & Poor's 500 index fell 4 points, or 0.2 percent, to 2,166. The Nasdaq composite lost 23 points, or 0.4 percent, to 5,295.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.58 percent.

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9:35 a.m.

Stocks are off to a mixed start on Wall Street as high-dividend companies declined, offsetting gains in consumer goods companies.

Real estate, utilities and phone companies all fell in early trading Thursday, partly due to a rise in bond yields. The price of oil stabilized a day after soaring on news of a preliminary agreement among OPEC nations to cut production in an effort to raise the price of crude.

In earnings news, PepsiCo and ConAgra Foods both rose after surprising investors with strong earnings reports.

The Dow Jones industrial average slipped 14 points, or 0.1 percent, to 18,325.

The Standard & Poor's 500 index fell 2 points, or 0.1 percent, to 2,168. The Nasdaq composite lost 8 points, or 0.2 percent, to 5,310.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.59 percent.