Markets Right Now: US stocks move lower in midday trade

AP News
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Posted: Apr 12, 2017 12:01 PM

The latest on developments in financial markets (All times local):

11:45 a.m.

Industrial sector companies led U.S. stock indexes lower in midday trading.

General Electric fell 1 percent Wednesday.

Trading was subdued as investors looked ahead to the long Easter holiday weekend and kept an eye on geopolitical tensions. Bond yields fell.

Consumer goods makers bucked the downward trend and moved higher. PepsiCo gained 1.7 percent.

Tractor Supply Company slumped 6.8 percent after issuing a weak forecast.

The Standard & Poor's 500 index fell 11 points, or 0.5 percent, to 2,341.

The Dow Jones industrial average lost 91 points, or 0.5 percent, to 20,558. The Nasdaq composite declined 34 points, or 0.6 percent, to 5,831.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.28 percent.

U.S. markets will be closed Friday for the Good Friday holiday.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street as phone companies and banks take losses.

Verizon and AT&T each fell about 0.5 percent in early trading Wednesday and Wells Fargo gave up 0.7 percent.

Tractor Supply Company slumped 6.2 percent after issuing a weak forecast, and Delta Air Lines rose 3.6 percent after reporting earnings that beat analysts' estimates.

The Standard & Poor's 500 index fell 4 points, or 0.2 percent, to 2,350.

The Dow Jones industrial average lost 26 points, or 0.1 percent, to 20,625. The Nasdaq composite slipped 3 points, or 0.1 percent, to 5,862.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.29 percent.