Markets Right Now: After a bumpy start, stocks manage gains

AP News
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Posted: Mar 22, 2017 4:10 PM

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

4:00 p.m.

U.S. stocks shook off a shaky start and finished mostly higher as technology and industrial companies rose.

Apple rose 1 percent Wednesday and Microsoft gained 1.3 percent.

The modest gains came a day after the market had its biggest drop this year.

Banks continued to fall along with bond yields, which forces interest rates on loans lower. Wells Fargo dropped 1 percent.

Sears plunged 12 percent after the struggling retailer said it was doubtful it would be able to keep operating.

The Standard & Poor's 500 index edged up 4 points, or 0.2 percent, to 2,348.

The Dow Jones industrial average fell 6 points, less than 0.1 percent, to 20,661, dragged down by a big drop in Nike.

The Nasdaq composite rose 27 points, or 0.5 percent, to 5,821.

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11:45 a.m.

Stocks are wavering between small gains and losses in midday trading as technology and industrial stocks rise but phone and energy companies fall.

Apple and Microsoft each gained about 1 percent Wednesday, but AT&T and Verizon each lost about 1 percent.

Energy companies fell along with another drop in the price of crude oil.

Sears Holdings plunged 16 percent after the struggling retailer said it was doubtful it would be able to keep operating.

Nike dropped 6 percent after issuing a weak forecast.

The Standard & Poor's 500 index edged up 4 points, or 0.2 percent, to 2,348.

The Dow Jones industrial average fell 12 points, or 0.1 percent, to 20,655. The Nasdaq composite rose 21 points, or 0.4 percent, to 5,815.

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9:35 a.m.

Stocks are treading water in early trading as gains in high-dividend stocks are outweighed by drops in banks and other sectors.

Sears Holdings plunged 9 percent in early trading Wednesday after the struggling retailer said it was doubtful it would be able to keep operating.

Nike dropped 6 percent after issuing a weak forecast.

The market is coming off its biggest drop so far this year.

The Standard & Poor's 500 index slipped 1 point to 2,342.

The Dow Jones industrial average fell 36 points, or 0.2 percent, to 20,632. The Nasdaq composite edged up 5 points, or 0.1 percent, to 5,799.

Small-company stocks fell more than the rest of the market.

More stocks fell than rose on the New York Stock Exchange.