Markets Right Now: Stocks look to recover from early skid

Markets Right Now: Stocks look to recover from early skid Photo: AP

June 18, 2018 03:21 PM

NEW YORK (AP) — The latest on developments in financial markets (all times local):

4:00 p.m.


Stocks are closing mixed Monday after recovering from early losses.

Energy stocks helped the comeback. Chevron gained 1.5 percent, getting a boost from a 1.2 percent rise in the price of U.S. crude oil.

Some big technology shares also posted gains. Alphabet, the parent company of Google, rose 2.1 percent.

Smaller and more U.S.-focused companies climbed higher. The Russell 2000 index added 0.5 percent to a record 1,692.45.

Health care companies weighed on the market, however. Pharmaceutical and biotechnology companies fell.

Household goods companies took some of the worst losses. Hershey fell 2.6 percent.

The S&P 500 index fell for the third time in four days, slipping 6 points, or 0.2 percent, to 2,773.87.

The Dow Jones industrials dropped 103 points, or 0.4 percent, to 24,987.47.


12:05 p.m.

Stocks are mostly lower Monday, although they've pared some early losses as energy companies and smaller companies post gains.

Household goods makers and health care companies are seeing the biggest losses, with Johnson & Johnson down 1.3 percent and Colgate-Palmolive off 2.2 percent.

Lingering worries over trade tensions between the U.S. and China pushed international indexes lower. Germany's DAX dropped 1.4 percent.

The Dow Jones industrial average is down 165 points, or 0.7 percent, to 24,924.

The S&P 500 is sliding 10 points, or 0.4 percent, to 2,769. The Russell 2000 index, which includes smaller, more U.S.-focused companies, is rising 2 points to 1,686.

Bond prices were little changed. The yield on the 10-year Treasury note remained at 2.92 percent.


9:35 a.m.

Stocks are opening lower Monday, adding to a global sell-off sparked by heightened trade tensions between the U.S. and China.

The Dow Jones industrial average is down 1 percent, the S&P 500 is slipping 0.8 percent and the Nasdaq is off by 0.9 percent.

Losses were across the board. Machine maker Caterpillar shed 1.3 percent, chip maker Intel dropped 3.2 percent and biotech company Biogen dropped 4.6 percent.

Perry Ellis is down 2.1 percent. Its founder George Feldenkreis is buying more stock and taking the company private for $437 million.

With investors worried about a trade war, bonds rose. The yield on the 10-year Treasury fell to 2.91 percent.

Indexes in Asia and Europe fell. Germany's DAX index shed 1.4 percent while Japan's Nikkei slipped 0.8 percent.


(Copyright 2018 by The Associated Press. All Rights Reserved.)


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