Markets Right Now: Late burst of buying leaves indexes mixed

Gregory Rowe Photo: AP
Gregory Rowe

February 08, 2019 03:22 PM

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

4 p.m.

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A late-day recovery erased much of the early losses on Wall Street, leaving major indexes mixed at the close.

The burst of buying Friday brought the S&P 500 barely higher for the week, marking its second weekly gain in a row.

The market is coming off a steep drop in December, followed by the best January in three decades.

With less than a month to go before a cease-fire expires in the tariff fight between the U.S. and China, traders have been watching closely for any signs of progress. So far, there's no deal on the horizon.

The S&P 500 edged up 1 point to 2,707.

The Dow Jones Industrial Average fell 63 points, or 0.3 percent, to 25,106. The Nasdaq edged up 9 points, or 0.1 percent, to 7,298.

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11:45 a.m.

Stocks are falling in midday trading on Wall Street as traders remain worried about trade tensions between the U.S. and China and slower economic growth globally.

The S&P 500 is on pace to close out its second down week in the last three Friday.

Bank and energy companies led the way lower. JPMorgan Chase fell 1.6 percent and Exxon Mobil lost 1.2 percent.

Goodyear plunged 9.3 percent after the company turned in results that fell short of what analysts were looking for.

The S&P 500 fell 16 points, or 0.6 percent, to 2,689.

The Dow Jones Industrial Average lost 217 points, or 0.9 percent, to 24,952. The Nasdaq dropped 40 points, or 0.6 percent, to 7,248.

Bond prices rose. The yield on the 10-year Treasury fell to 2.63 percent.

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9:35 a.m.

Stocks are opening lower on Wall Street as a mixed bag of earnings reports didn't inspire investors to get back to buying stocks.

Technology companies, banks and retailers posted some of the biggest losses in early trading Friday. Chipmaker Nvidia fell 1.1 percent and Amazon gave up 1.9 percent.

Goodyear slumped 5.1 percent after the company turned in results that fell short of what analysts were looking for.

The S&P 500 fell 10 points, or 0.4 percent, to 2,695.

The Dow Jones Industrial Average lost 115 points, or 0.5 percent, at 25,054. The Nasdaq dropped 37 points, or 0.5 percent, to 7,250.

Bond prices rose. The yield on the 10-year Treasury fell to 2.64 percent.

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(Copyright 2019 by The Associated Press. All Rights Reserved.)

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