Markets Right Now: Dow bucks downward trend, sets record

AP News
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Posted: Dec 12, 2016 4:06 PM

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

4:00 p.m.

Stocks are closing mostly lower on Wall Street, but energy companies rose along with the price of crude oil.

Gains in Exxon Mobil and Chevron nudged the Dow Jones industrial average to another record Monday, but other indexes declined as media companies, banks and technology stocks lost ground.

Viacom plunged 9 percent after merger talks with CBS were called off by the controlling shareholder of both companies.

Crude oil jumped 3 percent after oil-producing countries outside of OPEC agreed to reduce output.

The Standard & Poor's 500 index slipped 2 points, or 0.1 percent, to 2,256. The S&P 500 is coming off its sixth straight gain.

The Dow climbed 39 points, or 0.2 percent, to 19,796. The Nasdaq composite lost 31 points, or 0.6 percent, to 5,412.

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11:45 a.m.

Stocks are moving mostly lower on Wall Street, except for energy companies, which rose along with the price of oil.

Big jumps in Exxon Mobil and Chevron nudged the Dow Jones industrial average higher Monday, but other major market indexes fell. The Dow is at a record high.

The price of crude oil jumped 3 percent after oil-producing countries outside of OPEC agreed to reduce production. OPEC nations had already agreed on their own production cuts.

The Standard & Poor's 500 index slipped 4 points, or 0.2 percent, to 2,255. The S&P 500 is coming off its sixth straight gain, its longest winning streak since June 2014.

The Dow climbed 26 points, or 0.1 percent, to 19,782. The Nasdaq composite lost 40 points, or 0.7 percent, to 5,404.

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9:35 a.m.

Stocks are opening mostly lower on Wall Street, except for energy companies, which rose along with the price of oil.

Big jumps in Exxon Mobil and Chevron early Monday nudged the Dow Jones industrial average higher, but other major market indexes were lower.

The price of crude oil jumped 4 percent as oil-producing countries outside of OPEC agreed to reduce production. OPEC nations had already agreed on their own production cuts.

The Standard & Poor's 500 index slipped 1 point, or 0.1 percent, to 2,257. The S&P 500 is coming off its sixth straight gain, its longest winning streak since June 2014.

The Dow climbed 16 points, or 0.1 percent, to 19,773. The Dow is trading at another record high.

The Nasdaq composite slipped 27 points, or 0.5 percent, to 5,416.