Markets Right Now: Dow, S&P 500 set records; Nasdaq slips

AP News
|
Posted: Nov 23, 2016 4:03 PM

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

4:00 p.m.

The Dow Jones industrial average and the Standard & Poor's 500 index closed at record highs again but the Nasdaq composite fell, dragged down by declines in big technology names.

HP sank 7 percent Wednesday after releasing a weak profit forecast.

Eli Lilly plunged 11 percent after it said a potential treatment for Alzheimer's disease failed in a clinical trial.

Trading was quiet ahead of Thanksgiving.

The Dow rose 58 points, or 0.3 percent, to 19,082. The S&P 500 rose 1 point, or 0.1 percent, to 2,204. The Nasdaq declined 5 points, or 0.1 percent, to 5,380.

Small-company stocks continued to outpace the market. The Russell 2000 rose for the 14th trading day in a row.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.36 percent.

___

11:45 a.m.

The Dow Jones industrial average continues to set all-time highs even as other indexes slip in quiet pre-holiday trading on Wall Street.

Technology stocks are lower at midday Wednesday after HP released a weak profit forecast.

Drugmaker Eli Lilly plunged 12 percent after it said a potential treatment for Alzheimer's disease failed in a clinical trial.

Other health care stocks also fell. Biogen slumped 5 percent.

The Dow Jones industrial average rose 42 points, or 0.2 percent, to 19,066. The Standard & Poor's 500 index fell 2 points, or 0.1 percent, to 2,200. The Nasdaq composite declined 18 points, or 0.4 percent, to 5,367.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.38 percent.

U.S. markets will be closed Thursday for Thanksgiving.

___

9:35 a.m.

Big drops in several health care companies are taking stock indexes lower in early trading on Wall Street.

Drugmaker Eli Lilly plunged 14 percent early Wednesday after it said a potential treatment for Alzheimer's disease failed in a clinical trial.

Other health care stocks also fell. Biogen slumped 6 percent.

Agricultural equipment maker Deere & Co. soared 8 percent after reporting strong results for its latest quarter.

The Dow Jones industrial average slipped 4 points, less than 0.1 percent, to 19,019. The Standard & Poor's 500 index fell 5 points, or 0.5 percent, to 2,197. The Nasdaq composite declined 29 points, or 0.5 percent, to 5,357.

U.S. markets will be closed Thursday for Thanksgiving.