Markets Right Now: Stocks close mostly lower on Wall Street

Markets Right Now: Stocks close mostly lower on Wall Street Photo: AP

September 25, 2018 03:21 PM

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

4 p.m.

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Stocks are finishing mostly lower on Wall Street as losses by financial and health care companies offset gains elsewhere in the market.

Chubb fell 1.2 percent Tuesday and Johnson & Johnson lost 1.3 percent.

Airlines had another bad day as oil prices rose, which could translate into higher fuel costs for carriers. American Airlines gave up 2.8 percent.

The S&P 500 index fell 3 points, or 0.1 percent, to 2,915, its third loss in a row.

The Dow Jones Industrial Average gave up 69 points, or 0.3 percent, to 26,492.

Technology companies held up better than the rest of the market.

The Nasdaq composite gained 14 points, or 0.2 percent, to 8,007.

Bond prices continued to fall. The yield on the 10-year Treasury rose to 3.09 percent.

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11:50 a.m.

U.S. stocks are mostly higher at midday as energy companies rise along with oil prices.

ConocoPhillips rose 1.5 percent Tuesday and Chevron added 0.5 percent.

High-dividend stocks like utilities fell as interest rates increased. The Federal Reserve is expected to raise interest rates Wednesday, and higher rates make bonds more appealing compared to stocks.

Facebook slid 0.8 percent after the founders of Instagram said they are leaving the company.

The S&P 500 index added 2 points, or 0.1 percent, to 2,921.

The Dow Jones Industrial Average rose 26 points, or 0.1 percent, to 26,588. The Nasdaq composite gained 16 points, or 0.2 percent, to 8,009.

Bond prices continued to fall. The yield on the 10-year Treasury rose to 3.10 percent.

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9:35 a.m.

Stocks are opening slightly higher as energy companies rise with oil prices.

Benchmark U.S. crude rose 0.7 percent to $732.59 a barrel, its highest in about three months. Chevron gained 1 percent.

Facebook fell 2.5 percent after the founders of Instagram said they are leaving the company.

Interest rates neared their highest levels of the year as the Federal Reserve is expected to raise interest rates Wednesday.

The S&P 500 index added 2 points, or 0.1 percent, to 2,921.

The Dow Jones Industrial Average rose 51 points, or 0.2 percent, to 26,613. The Nasdaq composite dipped 1 point to 7,991.

Bond prices continued to fall. The yield on the 10-year Treasury rose to 3.10 percent.

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

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