Markets Right Now: US indexes struggle to a mixed close

By The Canadian Press
February 23, 2017 - 6:45am

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

4:00 p.m.

Stocks struggled to a mixed close as losses in industrial and small-company stocks mostly outweighed gains in high dividend-payers like utilities.

The Dow Jones industrial average managed its 10th straight increase Thursday and closed at another all-time high.

Technology companies fell, ending a 15-day winning streak.

U.S. Steel dropped 8 per cent and heavy machinery maker Caterpillar gave up 2.7 per cent.

The Standard & Poor's 500 index edged up a point to 2,363.

The Dow Jones industrial average climbed 34 points, or 0.2 per cent, to 20,810. The Nasdaq composite dropped 25 points, or 0.4 per cent, to 5,835.

The Russell 2000 index, which tracks small-company stocks, dropped 9 points, or 0.7 per cent, to 1,394.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.37 per cent.

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11:45 a.m.

Major stock indexes are mostly lower in midday trading following modest losses the day before.

Industrial companies and small-company stocks, which have surged in recent months, are slipping Thursday.

Technology companies are also trading lower, which could end a 15-day winning streak for the sector.

U.S. Steel dropped 6.5 per cent and heavy machinery maker Caterpillar gave up 3 per cent.

The Standard & Poor's 500 index fell 2 points, or 0.1 per cent, to 2,360.

The Dow Jones industrial average, which tracks 30 big U.S. companies, climbed 19 points, or 0.1 per cent, to 20,794. The Nasdaq composite dropped 36 points, or 0.6 per cent, to 5,823.

Small-company stocks fell more than the rest of the market. The Russell 2000 index dropped 16 points, or 1.1 per cent, to 1,387.

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9:35 a.m.

Stocks are posting moderate gains in early trading on Wall Street, led by gains in energy stocks which recouped some of their losses from a day earlier.

Oil rig operator Transocean jumped 4 per cent, one of the biggest gains in the Standard & Poor's 500 index.

Payments processor Square soared 16 per cent after reporting higher revenue that analysts were expecting and issuing a strong forecast.

The S&P 500 rose 3 points, or 0.2 per cent, to 2,366.

The Dow Jones industrial average, which tracks 30 big U.S. companies, climbed 31 points, or 0.2 per cent, to 20,807. The Nasdaq composite was down a fraction at 5,860.

The Dow and S&P 500 were at record highs.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.39 per cent.

The Associated Press

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