Markets Right Now: Stocks hold near record highs

Posted on Thursday, April 25th, 2019 By The Associated Press

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

11:45 a.m.

Stock indexes held close to their record highs as blowout results from big-name tech companies offset slumps in industrial companies that reported disappointing results.

Facebook and Microsoft both reported strong earnings, powering gains in the communications and technology sectors Thursday.

Industrial stocks were broadly lower, weighing down the Dow Jones Industrial Average.

3M sank 10.6% after reporting disappointing results, and UPS fell 6.8%. Tesla fell 2.9% after reporting a huge loss.

The S&P 500 rose 4 points, or 0.1%, to 2,931.

The Dow lost 115 points, or 0.4%, to 26,481. The Nasdaq rose 32 points, or 0.4%, to 8,1347.

Bond prices fell. The yield on the 10 year Treasury rose to 2.53%.

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9:35 a.m.

Stocks are opening mostly lower on Wall Street as industrial and health care companies post losses.

3M sank 10% in early trading Thursday after reporting disappointing first quarter results. That helped pull the Dow Jones Industrial Average down more than other major indexes.

Facebook and Microsoft both rose sharply after releasing surprisingly strong results after the closing bell on Wednesday. Facebook climbed 7.2% and Microsoft rose 3.6%.

Tesla fell 1.8% after reporting a huge loss.

The S&P 500 index fell 6 points, or 0.2%, to 2,919.

The Dow Jones Industrial Average lost 226 points, or 0.8%, to 26,376. The Nasdaq rose 19 points, or 0.2%, to 8,119.

Bond prices didn't move much. The yield on the 10 year Treasury held steady at 2.52%.

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