Markets Right Now: Stocks end mostly higher
NEW YORK (AP) — The latest on developments in global financial markets (all times local):
Stocks are ending mostly higher as the energy sector recovered along with the price of oil and tech giants Alphabet and Amazon turned in solid results.
Oil and gas companies turned higher Friday as the price of crude oil managed to post some gains after a monthlong plunge. Schlumberger gained 2 percent and Chevron rose 1 percent.
Google parent Alphabet rose 3 percent and Amazon rose 1 percent after both companies reported earnings that were better than analysts were expecting.
The Dow Jones industrial average lost 24 points, or 0.1 percent, 18,432.
The Standard & Poor’s 500 index rose 3 points, or 0.2 percent, to 2,173, but ended the week down after four straight weekly gains.
The Nasdaq composite rose 7 points, or 0.1 percent, to 5,162.
Stocks are mostly higher in midday trading as investors worked through another mixed batch of corporate earnings.
Exxon Mobil fell 2 percent Friday, the most in the Dow Jones industrial average, after reporting its smallest quarterly profit in almost 17 years.
Technology companies had better earnings news. Google’s parent company Alphabet jumped 5 percent after turning in a strong quarter, and online retail giant Amazon gained 2 percent after its results came in better than analysts were expecting.
The 30-stock Dow average slipped 10 points, less than 0.1 percent, to 18,445, weighed down by the drop in Exxon Mobil.
The Standard & Poor’s 500 index rose 4 points, or 0.2 percent, to 2,174. The Nasdaq composite gained 16 points, or 0.3 percent, to 5,171.
Stocks are opening mostly lower on Wall Street, led by declines in energy companies.
Exxon Mobil fell 3 percent early Friday, the most in the Dow Jones industrial average, after reporting its smallest quarterly profit in almost 17 years. Chevron also helped pull the Dow lower with a loss of 1.6 percent.
The price of crude oil continued its monthlong slump and was down 1 percent at $40.70 a barrel in New York.
The Dow was down 30 points, or 0.2 percent, to 18,426.
The Standard & Poor’s 500 index was down less than a point at 2,169. The Nasdaq composite gained 5 points, or 0.1 percent, to 5,160.
Bond prices rose. The yield on the 10-year Treasury note fell to 1.49 percent.