Markets Right Now: US stock indexes waver in midday trading

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

11:45 a.m.

Stocks are wavering between small gains and losses in midday trading as technology and industrial stocks rise but phone and energy companies fall.

Apple and Microsoft each gained about 1 per cent Wednesday, but AT&T and Verizon each lost about 1 per cent.

Energy companies fell along with another drop in the price of crude oil.

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Sears Holdings plunged 16 per cent after the struggling retailer said it was doubtful it would be able to keep operating.

Nike dropped 6 per cent after issuing a weak forecast.

The Standard & Poor’s 500 index edged up 4 points, or 0.2 per cent, to 2,348.

The Dow Jones industrial average fell 12 points, or 0.1 per cent, to 20,655. The Nasdaq composite rose 21 points, or 0.4 per cent, to 5,815.

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9:35 a.m.

Stocks are treading water in early trading as gains in high-dividend stocks are outweighed by drops in banks and other sectors.

Sears Holdings plunged 9 per cent in early trading Wednesday after the struggling retailer said it was doubtful it would be able to keep operating.

Nike dropped 6 per cent after issuing a weak forecast.

The market is coming off its biggest drop so far this year.

The Standard & Poor’s 500 index slipped 1 point to 2,342.

The Dow Jones industrial average fell 36 points, or 0.2 per cent, to 20,632. The Nasdaq composite edged up 5 points, or 0.1 per cent, to 5,799.

Small-company stocks fell more than the rest of the market.

More stocks fell than rose on the New York Stock Exchange.

The Associated Press