Markets Right Now: Energy stocks lead US indexes lower

AP News
|
Posted: Jan 23, 2017 4:05 PM

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

4:00 p.m.

Stocks are ending slightly lower on Wall Street as energy companies slide along with the price of crude oil.

Oil rig operator Transocean slumped 3.6 percent Monday.

Chipmaker Qualcomm plunged 12.7 percent after Apple said it was suing the company in a patent fight.

High-dividend stocks did better than the rest of the market as bond yields fell, making those sectors more appealing to investors seeking income. AT&T rose 1.3 percent.

The Standard & Poor's 500 index fell 6 points, or 0.3 percent, to 2,265.

The Dow Jones industrial average lost 27 points, or 0.1 percent, to 19,799. The Nasdaq composite slipped 2 points, less than 0.1 percent, to 5,552.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.40 percent.

___

11:45 a.m.

Stocks are heading lower in midday trading, led by declines in energy companies as the price of crude oil falls.

National Oilwell Varco fell 2.5 percent Monday.

High-dividend stocks did better than the rest of the market as bond yields fell, making those sectors more appealing to investors seeking income. AT&T rose 0.6 percent.

The Standard & Poor's 500 index fell 12 points, or 0.6 percent, to 2,258.

The Dow Jones industrial average lost 80 points, or 0.4 percent, to 19,747. The Nasdaq composite fell 27 points, or 0.5 percent, to 5,527.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.39 percent.

___

9:35 a.m.

Stock indexes are little changed in early trading on Wall Street as gains in materials and technology companies are offset by losses in energy stocks and retailers.

Energy companies were weaker early Monday as the price of crude oil fell. National Oilwell Varco slumped 1.8 percent and Halliburton lost 2.9 percent.

Among retail companies, McDonald's fell 1.6 percent.

The Standard & Poor's 500 index was little changed at 2,271.

The Dow Jones industrial average slipped 1 point to 19,825. The Nasdaq composite edged up 6 points, or 0.1 percent, to 5,562.