Markets Right Now: Dow closes at 12th record high close

AP News
|
Posted: Feb 27, 2017 4:10 PM

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

4:00 p.m.

Dow Jones industrials closed at a record high for the 12th consecutive time.

The Standard & Poor's 500 index, the benchmark favored by professional investors, also closed at a record high on Monday.

The tiny gains came after an indecisive day for U.S. stocks that sent indexes wavering between small gains and losses.

Energy companies rose, but phone companies and utilities fell.

National Oilwell Varco rose 3.3 percent. Verizon lost 1.4 percent.

The Dow gained 15 points, less than 0.1 percent, to 20,837. The S&P 500 index gained 2 points, or 0.1 percent, to 2,367. The Nasdaq composite increased 16 points, or 0.3 percent, to 5,861.

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

___

11:45 a.m.

The major U.S. stock indexes wavered between small gains and losses in midday trading.

Energy stocks led the gainers Monday as the price of crude rose. National Oilwell Varco rose 3.3 percent.

Phone companies lagged the most. Verizon lost 1.4 percent. Supermarket operators and companies that sell consumer goods also fell.

Investors were looking ahead to President Donald Trump's speech to Congress on Tuesday for details of promised tax cuts and infrastructure spending.

The Dow Jones industrial average was down 13 points, or 0.1 percent, to 20,808. The Standard & Poor's 500 index fell 1 points, or 0.1 percent, to 2,366. The Nasdaq composite lost 2 points, or 0.1 percent, to 5,842.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.34 percent.

___

9:35 a.m.

Stocks are opening slightly lower on Wall Street following 11 straight gains for the Dow Jones industrial average.

Utilities posted some of the biggest losses in early trading Monday. Power company AES fell 5 percent after its full-year profit forecast disappointed investors.

Several energy companies fell along with the price of natural gas. Chesapeake Energy slumped 2 percent.

The Dow fell 38 points, or 0.2 percent, to 20,785. The Standard & Poor's 500 index fell 4 points, or 0.2 percent, to 2,362. The Nasdaq composite fell 16 points, or 0.3 percent, to 5,827.