Markets Right Now: Stocks end little changed on Wall Street

AP News
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Posted: Jan 18, 2017 4:10 PM

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

4:00 p.m.

Stocks ended little changed as a stretch of listless trading continues.

Bond yields and the dollar resumed their moves higher Wednesday.

Steel maker Nucor gained 3.7 percent and Fastenal, which sells nuts, bolts and other equipment, jumped 5.8 percent after turning in a strong earnings report.

Retailers fell broadly after Target reported weak holiday sales. Target fell 5.8 percent, Dollar Tree slumped 2.8 percent and Macy's fell 1.5 percent.

The Standard & Poor's 500 index rose 4 points, or 0.2 percent, to 2,271.

The Dow Jones industrial average fell 22 points, or 0.1 percent, to 19,804, held back by a big drop in UnitedHealth.

The Nasdaq composite rose 16 points, or 0.3 percent, to 5,555.

Bond prices fell sharply. The yield on the 10-year Treasury note rose to 2.42 percent.

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11:45 a.m.

Stocks are mixed in midday trading on Wall Street, as gains in materials and industrial companies were offset by weakness elsewhere.

Steel maker Nucor gained 3 percent Wednesday and Fastenal, which makes nuts, bolts and other equipment, jumped 5 percent after turning in a strong earnings report.

Retailers were broadly lower after Target reported weak holiday sales. Target fell 5.1 percent, Dollar Tree slumped 2.7 percent and Macy's fell 2.6 percent.

The Standard & Poor's 500 index was up 1 point at 2,268.

The Dow Jones industrial average was down 30 points, or 0.2 percent, to 19,791. A big drop in UnitedHealth held the Dow back.

The Nasdaq composite was little changed at 5,538.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.37 percent.

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9:35 a.m.

Stocks are opening mostly lower on Wall Street, led by declines in retailers after Target cut its profit and sales projections.

Target slumped 5 percent in early trading Wednesday after saying its holiday season sales were weak. Other retailers also fell. Kohl's slumped 4 percent and Macy's and Dollar Tree each lost 2 percent.

Energy companies were also falling along with the price of crude oil. Transocean was down 2 percent in early trading.

The Standard & Poor's 500 index was down 1 point at 2,267.

The Dow Jones industrial average lost 60 points, or 0.3 percent, to 19,7686. The Nasdaq composite edged up 7 points, or 0.1 percent, to 5,545.

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