Markets Right Now: US stock indexes finish mostly lower

Markets Right Now: US stock indexes finish mostly lower Photo: AP

May 24, 2018 03:21 PM

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

4 p.m.

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U.S. stocks are finishing mostly lower as energy companies skidded along with oil prices.

The market dropped Thursday after President Donald Trump said he canceled a meeting with North Korean leader Kim Jong Un, but recovered most of those losses.

Crude oil prices and energy companies fell as investors reacted to reports the nations of OPEC may start producing more oil. Exxon Mobil fell 2.3 percent.

Car companies fell as the Trump administration considered tariffs on imported cars. Toyota lost 1.8 percent.

The S&P 500 index fell 5 points, or 0.2 percent, to 2,727.

The Dow Jones industrial average lost 75 points, or 0.3 percent, to 24,811. The Nasdaq composite slipped 1 point to 7,424.

Bond prices rose. The yield on the 10-year Treasury fell to 2.97 percent.

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11:45 a.m.

Stocks are skidding after President Donald Trump canceled a meeting with North Korean leader Kim Jong Un.

Energy companies are falling along with oil prices as investors respond to reports the nations of OPEC may start producing more oil. Exxon Mobil lost 2.3 percent.

Car companies fell as the Trump administration considered tariffs on imported cars. Toyota lost 1.8 percent.

Best Buy fell 5.5 percent after issuing a weak outlook. Williams-Sonoma jumped 10.5 percent after raising its forecasts.

The S&P 500 index fell 12 points, or 0.5 percent, to 2,720.

The Dow Jones industrial average lost 169 points, or 0.7 percent, to 24,714. The Nasdaq composite lost 30 points, or 0.4 percent, to 7,395.

Bond prices rose. The yield on the 10-year Treasury fell to 2.97 percent.

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9:35 a.m.

Stocks are opening on a weak note as falling oil prices pull energy companies lower.

Banks are also falling in early trading Thursday as interest rates decline. Chevron gave up 1.3 percent and Wells Fargo also lost 1.3 percent.

Best Buy fell 5.5 percent after issuing a weak outlook, and Williams-Sonoma jumped 10.5 percent after raising its forecasts following a strong quarter.

The S&P 500 index fell 1 point, or 0.1 percent, to 2,731.

The Dow Jones industrial average lost 21 points, or 0.1 percent, to 24,865. The Nasdaq composite edged up 3 points, or 0.1 percent, to 7,430.

Bond prices rose. The yield on the 10-year Treasury fell to 2.97 percent.

Credits

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

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