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Markets Right Now: Dow at record, other indexes struggle

Posted December 1

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

11:45 a.m.

The Dow Jones industrial average reaches a record high, even as broader indexes struggle, as banks and energy companies build on their recent gains.

Oil prices kept rising Thursday, a day after OPEC countries agree to cut production. Southwestern Energy jumped 8.6 percent and Transocean rose 6.2 percent.

Banks are rising as investors expect higher interest rates. JPMorgan Chase gained 2.3 percent.

Technology and high-dividend stocks are skidding.

The Dow Jones industrial average rose 74 points, or 0.4 percent, to 19,198. The Standard & Poor's 500 index fell 1 point to 2,197. The Nasdaq composite slumped 53 points, or 1 percent, to 5,270.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.46 percent.

___

9:35 a.m.

Energy stocks are leading U.S. indexes mostly higher as the price of crude oil continues to climb.

Benchmark U.S. crude was up 3 percent to $50 a barrel in early trading in New York Thursday, about where it was in mid-October.

Among energy companies, Southwestern Energy climbed 3.6 percent and Range Resources rose 3.7 percent.

Banks were also trading higher as interest rates rose further.

JPMorgan Chase gained 1 percent.

The Dow Jones industrial average rose 38 points, or 0.2 percent, to 19,163, above its latest record high close from last week.

The Standard & Poor's 500 index was up a fraction at 2,198. The Nasdaq composite fell 9 points, or 0.2 percent, to 5,314.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.44 percent.

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