Markets Right Now: US stock indexes back away from records

AP News
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Posted: Jun 05, 2017 4:06 PM

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

4:00 p.m.

Stocks are closing slightly lower on Wall Street as the market pulls back from record highs set late last week.

Utilities and materials companies posted some of the biggest losses Monday. Paint maker Sherwin-Williams lost 0.9 percent.

Technology companies and banks bucked the downward trend. Google parent Alphabet closed above $1,000 a share for the first time.

The Standard & Poor's 500 index fell 3 points, or 0.1 percent, to 2,436.

The Dow Jones industrial average lost 22 points, or 0.1 percent, to 21,184. The Nasdaq slipped 10 points, or 0.2 percent, to 6,295.

Small-company stocks fell more than the rest of the market. The Russell 2000 gave up 9 points, or 0.6 percent, to 1,396.

Bond prices fell. The yield on the 10-year Treasury rose to 2.18 percent.

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11:45 a.m.

Stocks are edging lower in midday trading as the market pulls back from its latest record highs set last week.

Materials companies had some of the biggest losses Monday. Paint maker Sherwin-Williams sank 1.1 percent.

Technology companies and banks managed to post some gains. Google parent Alphabet traded over $1,000 a share for the first time.

The Standard & Poor's 500 index fell 3 points, or 0.1 percent, to 2,435.

The Dow Jones industrial average fell 14 points, or 0.1 percent, to 21,193. The Nasdaq composite slipped 12 points, or 0.2 percent, to 6,293.

Small-company stocks fell more than the rest of the market. The Russell 2000 fell 7 points, or 0.4 percent, to 1,397.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.17 percent.

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9:35 a.m.

Stocks are edging lower in early trading on Wall Street as the market pulls back from its latest record highs.

Phone companies and retailers had some of the biggest losses Monday. Verizon pulled back 0.7 percent.

Technology companies and banks managed to post some gains. Google parent Alphabet traded over $1,000 a share for the first time.

The Standard & Poor's 500 index fell 3 points, or 0.1 percent, to 2,435.

The Dow Jones industrial average gave up 28 points, or 0.2 percent, to 21,175. The Nasdaq composite slipped 5 points, or 0.1 percent, to 6,300.