Markets Right Now: S&P 500 breaks a 3-day winning streak

John Panin Photo: AP
John Panin

February 21, 2019 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 closing lower on Wall Street, breaking a three-day winning streak for the S&P 500.

The modest decline in the benchmark index Thursday marked only the fourth loss this month.

The losses were broad, with health care stocks, banks and energy companies leading the way lower.

CVS Health dropped 2.9 percent, while Morgan Stanley lost 1.1 percent. Valero Energy gave up 1.1 percent.

The S&P 500 fell 9 points, or 0.4 percent, to 2,774. The index is up 10.7 percent so far this year following a huge drop in December.

The Dow Jones Industrial Average lost 103 points, or 0.4 percent, to 25,850. The Nasdaq fell 29 points, or 0.4 percent, to 7,459.

Bond prices fell. The yield on the 10-year Treasury rose to 2.69 percent.

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11:45 a.m.

Stocks are heading lower in midday trading on Wall Street, putting the S&P 500 index on pace for just its fourth decline this month.

The losses Thursday were widespread, with health care, communications and technology companies accounting for much of the decline.

Johnson & Johnson lost 1 percent after disclosing that it had received federal subpoenas related to litigation over its baby powder.

Avis Budget Group jumped 16.8 percent after reporting earnings that were much better than analysts were expecting.

The S&P 500 fell 10 points, or 0.4 percent, to 2,773.

The Dow Jones Industrial Average lost 100 points, or 0.4 percent, to 25,853. The Nasdaq fell 34 points, or 0.5 percent, to 7,454.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.69 percent.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street, threatening to end a three-day winning streak for the S&P 500 index.

Health care and internet companies fell the most in early trading Thursday.

Google's parent company, Alphabet, lost 0.8 percent and Johnson & Johnson lost 1.2 percent after disclosing that it had received federal subpoenas related to litigation over its baby powder.

Avis Budget Group jumped 11.9 percent after reporting earnings that were much better than analysts were expecting.

The S&P 500 fell 7 points, or 0.3 percent, to 2,777.

The Dow Jones Industrial Average lost 61 points, or 0.2 percent, to 25,884. The Nasdaq fell 20 points, or 0.3 percent, to 7,469.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.68 percent.

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

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