Markets Right Now: Dow, Russell at new highs as stocks gain

AP News
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Posted: Dec 06, 2016 4:11 PM

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

4:00 p.m.

A modest upturn in afternoon trading was enough to deliver record high closes for the Dow Jones industrial average and the Russell 2000 index, which tracks small and mid-sized companies.

The Standard & Poor's 500 index of large companies ended just below its own all-time high Tuesday.

Phone companies rose more than the rest of the market. AT&T jumped 1.9 percent. Banks also rose.

The price of oil slumped after a 4-day rally. Energy companies ended slightly lower. Pioneer Natural Resources fell 1.9 percent.

The Dow rose 35 points, or 0.2 percent, to 19,251. The S&P 500 index rose 7 points, or 0.3 percent, to 2,212. The Nasdaq composite rose 24 points, or 0.5 percent, to 5,333.

The Russell jumped 14 points, or 1.1 percent, to 1,352.

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11:45 a.m.

Stocks are wavering between small gains and losses in midday trading on Wall Street.

Energy companies slumped Tuesday as the price of crude oil turned lower after a four-day rally.

The Dow Jones industrial average slipped after setting a record high close the day before.

Chipotle Mexican Grill dropped 7 percent after the company's CEO said the restaurant operator's turnaround is going slower than expected.

The Dow fell 17 points, or 0.1 percent, to 19,198.

The Standard & Poor's 500 index was up a fraction at 2,205. The Nasdaq composite lost 6 points, or 0.1 percent, to 5,302.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street, led by declines in energy companies as the price of crude oil turns lower.

Several of the biggest decliners in the Standard & Poor's 500 index in early trading Tuesday were energy companies.

Devon Energy and rig operator Transocean each fell 3 percent.

Arts and crafts retailer Michaels slumped 8 percent after reporting earnings that fell short of analysts' estimates.

The Dow Jones industrial average fell 13 points, or 0.1 percent, to 19,198. The Dow closed at a record high the day before.

The S&P 500 slipped 1 point to 2,203. The Nasdaq composite lost 1 point to 5,307.