Markets Right Now: US stocks struggle to a mixed finish
NEW YORK (AP) — The latest on developments in financial markets (all times local):
U.S. stock indexes found their footing after a sharp early loss and managed a mixed finish.
Technology companies sank for the third day in a row Monday. Adobe lost 3.2 percent.
Financial companies did well. Chubb rose 1.3 percent.
Arconic jumped 7 percent following a Reuters report that a group of private equity firms wanted to make a bid for the company.
Stocks got off to a weak start following some big declines late last week. European markets dropped as Italy said it would ramp spending.
The Standard & Poor’s 500 index slipped 1 point to 2,884.
The Dow Jones Industrial Average added 39 points, or 0.2 percent, to 26,486. The Nasdaq composite fell 52 points, or 0.7 percent, to 7,735.
Bond trading was closed for Columbus Day.
U.S. stocks are sinking again, and technology companies are taking some of the biggest losses.
Microsoft lost 2.3 percent Monday and Apple gave up 1.6 percent.
Energy companies were falling in tandem with the price of crude oil. Marathon Petroleum gave up 2.8 percent.
Stocks in Europe dropped after Italy’s new deputy premier said the government won’t deviate from its plan to increase spending. Italy’s main stock index dropped 2.3 percent and the yields on its government bonds rose sharply.
The Standard & Poor’s 500 index fell 21 points, or 0.7 percent, to 2,865.
The Dow Jones Industrial Average lost 207 points, or 0.8 percent, to 26,234. The Nasdaq composite fell 110 points, or 1.4 percent, to 7,677.
U.S. bond trading was closed for Columbus Day.
Losses for technology and energy stocks are leading U.S. indexes lower in early trading on Wall Street.
Apple fell 1 percent early Monday. Energy companies were falling in tandem with the price of crude oil. Marathon Petroleum lost 2 percent.
European markets were lower on concerns about Italy’s spending plans. Italy’s main stock index dropped 2.6 percent and the yields on its government bonds rose sharply.
The Standard & Poor’s 500 index fell 9 points, or 0.3 percent, to 2,875.
The Dow Jones Industrial Average lost 119 points, or 0.4 percent, to 26,324. The Nasdaq composite fell 50 points, or 0.6 percent, to 7,737.
Bond trading was closed for Columbus Day. Other financial markets were open.