Markets Right Now: Stocks end a choppy day of trading mixed
NEW YORK (AP) — The latest on developments in financial markets (All times local):
The stock market ended a choppy day of trading with mixed results as slumping technology companies held back gains elsewhere.
The Standard & Poor’s 500 notched a tiny gain Thursday, enough to mark another all-time high for the widely used index.
Safe-play stocks like utilities and phone companies also rose, but homebuilders slumped after a sharp drop in new home sales last month. Airlines also fell sharply for the second day in a row.
The S&P 500 index edged up 1 point to 2,839.
The Dow Jones industrial average added 140 points, or 0.5 percent, to 26,392. The Dow also closed at an all-time high.
The Nasdaq composite fell 3 points, or 0.1 percent, to 7,411.
Bond prices rose. The yield on the 10-year Treasury fell to 2.62 percent.
Technology and health care companies are leading stocks broadly higher in midday trading on Wall Street.
Microsoft rose 1.2 percent and Johnson & Johnson climbed 1.1 percent Thursday. Drugmaker Biogen rose 1.9 percent.
Airlines continued to take steep losses as investors worry about rising costs and the possibility of falling fares. American Airlines lost 2.9 percent.
The dollar continued to weaken.
The Standard & Poor’s 500 index rose 6 points, or 0.2 percent, to 2,844.
The Dow Jones industrial average added 171 points, or 0.7 percent, to 26,422. The Nasdaq composite rose 27 points, or 0.4 percent, to 7,442.
Bond prices turned higher. The yield on the 10-year Treasury fell to 2.64 percent.
Stocks are opening broadly higher as technology companies recover after sliding a day earlier.
Facebook rose 1.1 percent in early trading Thursday and chipmaker Intel added 1.6 percent.
Several companies were moving after reporting their latest quarterly results. Drugmaker Biogen rose 1.5 percent and Ford slumped 2.7 percent.
The dollar continued to weaken against other currencies.
The Standard & Poor’s 500 index rose 9 points, or 0.3 percent, to 2,847.
The Dow Jones industrial average added 101 points, or 0.4 percent, to 26,357. The Nasdaq composite rose 41 points, or 0.6 percent, to 7,457.
Bond prices fell. The yield on the 10-year Treasury rose to 2.66 percent.