Markets Right Now: Stocks look to recover from early skid
Posted June 18, 2018 1:18 pm.
Last Updated June 18, 2018 2:01 pm.
This article is more than 5 years old.
NEW YORK, N.Y. – The latest on developments in financial markets (all times local):
4:00 p.m.
Stocks are closing mixed Monday after recovering from early losses.
Energy stocks helped the comeback. Chevron gained 1.5 per cent, getting a boost from a 1.2 per cent rise in the price of U.S. crude oil.
Some big technology shares also posted gains. Alphabet, the parent company of Google, rose 2.1 per cent.
Smaller and more U.S.-focused companies climbed higher. The Russell 2000 index added 0.5 per cent to a record 1,692.45.
Health care companies weighed on the market, however. Pharmaceutical and biotechnology companies fell.
Household goods companies took some of the worst losses. Hershey fell 2.6 per cent.
The S&P 500 index fell for the third time in four days, slipping 6 points, or 0.2 per cent, to 2,773.87.
The Dow Jones industrials dropped 103 points, or 0.4 per cent, to 24,987.47.
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12:05 p.m.
Stocks are mostly lower Monday, although they’ve pared some early losses as energy companies and smaller companies post gains.
Household goods makers and health care companies are seeing the biggest losses, with Johnson & Johnson down 1.3 per cent and Colgate-Palmolive off 2.2 per cent.
Lingering worries over trade tensions between the U.S. and China pushed international indexes lower. Germany’s DAX dropped 1.4 per cent.
The Dow Jones industrial average is down 165 points, or 0.7 per cent, to 24,924.
The S&P 500 is sliding 10 points, or 0.4 per cent, to 2,769. The Russell 2000 index, which includes smaller, more U.S.-focused companies, is rising 2 points to 1,686.
Bond prices were little changed. The yield on the 10-year Treasury note remained at 2.92 per cent.
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9:35 a.m.
Stocks are opening lower Monday, adding to a global sell-off sparked by heightened trade tensions between the U.S. and China.
The Dow Jones industrial average is down 1 per cent, the S&P 500 is slipping 0.8 per cent and the Nasdaq is off by 0.9 per cent.
Losses were across the board. Machine maker Caterpillar shed 1.3 per cent, chip maker Intel dropped 3.2 per cent and biotech company Biogen dropped 4.6 per cent.
Perry Ellis is down 2.1 per cent. Its founder George Feldenkreis is buying more stock and taking the company private for $437 million.
With investors worried about a trade war, bonds rose. The yield on the 10-year Treasury fell to 2.91 per cent.
Indexes in Asia and Europe fell. Germany’s DAX index shed 1.4 per cent while Japan’s Nikkei slipped 0.8 per cent.
