Markets Right Now: Stocks end mixed on bull’s birthday
NEW YORK (AP) — The latest on developments in financial markets (All times local):
The eighth birthday of the current bull market ended on Wall Street without much of a celebration.
Stock indexes ended barely changed Thursday, eight years to the day since the market bottomed out in the depths of the financial crisis.
Industrial companies fell as heavy machinery maker Caterpillar continued to slide. Real estate companies also slid.
Health care companies rose and banks gained along with bond yields. Wells Fargo rose almost 1 percent.
The Standard & Poor’s 500 index edged up 1 point to 2,364.
The Dow Jones industrial average was little changed at 20,858. The Nasdaq composite edged up a point to 5,838.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.60 percent.
Stock indexes are edging higher in midday trading on Wall Street as more losses for energy companies partly outweigh gains for banks and phone companies.
Banks were posting gains Thursday as bond yields rose. Citigroup climbed 1.3 percent and Wells Fargo rose 1.1 percent.
Oil companies fell along with the price of crude oil. Rig operator Transocean dropped 4.2 percent.
The price of crude oil fell another 1 percent to $49 a barrel, its lowest price since last November.
The Standard & Poor’s 500 index rose 4 points, or 0.2 percent, to 2,366.
The Dow Jones industrial average gained 20 points, or 0.1 percent, to 20,875. The Nasdaq composite increased 11 points, or 0.2 percent, to 5,848.
The yield on the 10-year Treasury note rose to 2.58 percent.
Stocks indexes are little changed in early trading on Wall Street as losses in energy and technology companies outweigh gains in other sectors such as banks.
Oil companies were falling along with the price of crude oil Thursday. Halliburton fell 2.3 percent and rig operator Transocean lost 1.6 percent.
The price of crude oil fell another 1 percent to just under $50, its lowest price since last November.
Banks were mostly higher as bond yields rose. Citigroup rose 0.7 percent.
The Standard & Poor’s 500 index rose 1 point to 2,364.
The Dow Jones industrial average edged up 4 points to 20,861. The Nasdaq was little changed at 5,837.
The yield on the 10-year Treasury note rose to 2.57 percent.