Markets Right Now: Industrial stocks lead US indexes lower

Posted on Wednesday, July 17th, 2019 By The Associated Press

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

11:45 a.m.

Stock indexes are slightly lower in midday trading on Wall Street as a weak showing for railroad operator CSX pulled industrial companies broadly lower.

Banks were also falling Wednesday as investors worry that lower interest rates will hurt their profits going forward.

Technology stocks bucked the downward trend and put up some solid gains. Qualcomm rose 1.4% following reports that the government asked a court to pause enforcement of an antitrust ruling.

The S&P 500 index fell 5 points, or 0.2%, to 2,998.

The Dow Jones Industrial Average edged down 20 points, or 0.1%, to 27,316. The Nasdaq was little changed at 8,221.

Bond prices rose. The yield on the 10-year Treasury fell to 2.07%.

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9:35 a.m.

Stocks are off to a mixed start on Wall Street as gains for health care companies are offset by losses in banks and industrial companies.

Abbott Laboratories rose 4% in early trading Wednesday, while Comerica fell 3.9%. Textron lost 3.5% after reporting revenue that fell short of analysts' estimates.

Qualcomm rose 2% following reports that the government asked a court to pause enforcement of an antitrust ruling against the company.

The S&P 500 index was little changed at 3,004.

The Dow Jones Industrial Average edged down 20 points, or 0.1%, to 27,316. The Nasdaq rose 4 points, or 0.1%, to 8,227.

Bond prices rose. The yield on the 10-year Treasury fell to 2.09%.

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