Markets Right Now: US stocks drift mostly lower at midday

AP News
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Posted: Jan 26, 2017 11:58 AM

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

11:45 a.m.

U.S. stock indexes are drifting mostly lower in midday trading, a day after the Dow Jones industrial average closed above 20,000 for the first time.

Technology stocks are down the most, while financial companies are rising.

It's a big day for company earnings. Among those reporting solid results, paint maker Sherwin-Williams jumped 9 percent after reporting earnings and revenue that easily beat analysts' forecasts.

Mattel sank 16 percent after reporting a big slowdown of toy sales over the holidays.

The Dow, which tracks 30 big industrial companies, rose 43 points, or 0.2 percent, to 20,111.

Broader indexes fell. The Standard & Poor's 500 index fell a fraction to 2,298. The Nasdaq composite also fell a fraction to 5,656.

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9:35 a.m.

Stocks are opening slightly higher on Wall Street a day after the Dow Jones industrial average closed above 20,000 for the first time.

Energy stocks rose more than the rest of the market early Thursday as the price of oil gained 2 percent.

Southwestern Energy gained 3.1 percent and Chesapeake Energy rose 2.2 percent.

It's a big day for company earnings. Among those reporting solid results, paint maker Sherwin-Williams jumped 6 percent after reporting earnings and revenue that easily beat analysts' forecasts.

Mattel sank 13 percent after reporting a big slowdown of toy sales over the holidays.

The Dow rose 21 points, or 0.1 percent, to 20,089. The Standard & Poor's 500 index rose 1 point to 2,299. The Nasdaq composite rose 12 points, or 0.2 percent, to 5,668.