Markets Right Now: Stocks indexes drift in midday trading

Posted on Thursday, August 9th, 2018 By The Associated Press

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

11:45 a.m.

Major U.S. indexes are little changed in midday trading as technology stocks rise while energy companies and banks slip.

Bond prices rose Thursday, sending yields lower, after the Labor Department reported that wholesale prices were little changed in July, a sign inflation pressures weakened slightly.

Yelp jumped 27.5 percent after raising its revenue forecast, but Rite Aid slumped 10.6 percent after calling off its sale to the grocery chain Albertsons.

Flowserve, Viacom and Norwegian Cruise Line all rose sharply after reporting solid results.

The S&P 500 index was little changed at 2,856.

The Dow Jones Industrial Average fell 51 points, or 0.2 percent, to 25,533. The Nasdaq composite rose 15 points, or 0.2 percent, to 7,904.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.94 percent.

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9:35 a.m.

Stocks are off to a mixed start on Wall Street as gains for technology companies are offset by losses elsewhere in the market.

Yelp jumped 20 percent early Thursday after raising its revenue forecast, but Rite Aid slumped 10 percent after calling off its sale to the grocery chain Albertsons.

Flowserve, Viacom and Norwegian Cruise Line all rose sharply after reporting solid results.

The S&P 500 index was little changed at 2,857.

The Dow Jones Industrial Average fell 5 points to 25,578. The Nasdaq composite rose 10 points, or 0.1 percent, to 7,899.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.93 percent.

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