Markets Right Now: Stocks move modestly lower

AP News
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Posted: Feb 02, 2017 12:00 PM

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

11:45 a.m.

Stocks are moving lower on Wall Street as traders didn't find much to get excited about in the latest batch of earnings reports from U.S. companies.

Ryder System, a truck leasing company, fell 6 percent after reporting earnings that fell far short of what Wall Street analysts were expecting.

Ralph Lauren dropped 12 percent after announcing that Stefan Larsson, who took over as CEO for Ralph Lauren less than two years ago, is leaving the company.

The Standard & Poor's 500 index lost 3 points, or 0.1 percent, to 2,276.

The Dow Jones industrial average fell 43 points, or 0.2 percent, to 19,846. The Nasdaq composite gave up 10 points, or 0.2 percent, to 5,631.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.46 percent.

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9:35 a.m.

Stocks are opening modestly lower on Wall Street as traders didn't find much to get excited about in the latest batch of earnings reports from U.S. companies.

Insurer MetLife sank 5 percent early Thursday after reporting earnings and revenue that came in well below analysts' forecasts.

Ralph Lauren dropped 10 percent after announcing that Stefan Larsson, who took over as CEO for Ralph Lauren less than two years ago, is leaving the company.

The Standard & Poor's 500 index lost 6 points, or 0.3 percent, to 2,273.

The Dow Jones industrial average fell 34 points, or 0.2 percent, to 19,861. The Nasdaq composite gave up 22 points, or 0.4 percent, to 5,619.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.44 percent.