Markets Right Now: Most stocks fall, but Nasdaq sets record
Posted May 16
The latest on developments in financial markets (All times local):
Stocks are closing mostly lower on Wall Street, but gains in some technology companies nudged the Nasdaq composite to another record high.
Utilities, phone companies and real estate companies fell more than the rest of the market Tuesday, and most industries were lower.
Technology bucked the trend, and chipmaker Advanced Micro Devices soared 11.6 percent. Microsoft increased 2 percent.
The Standard & Poor's 500 index fell 1 point, or 0.1 percent, to 2,400.
The Dow Jones industrial average slipped 2 points, less than 0.1 percent, to 20,979. The Nasdaq composite increased 20 points, or 0.3 percent, to 6,169.
More stocks fell than rose on the on the New York Stock Exchange.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.32 percent.
Stocks are mostly lower in midday trading on Wall Street a day after two major indexes closed at record highs.
Health care and real estate companies fell more than the rest of the market Tuesday.
Pfizer fell 1.7 percent and UnitedHealth lost 1.6 percent.
Home Depot bucked the downward trend and jumped 1.4 percent after reporting results that were better than analysts were expecting.
The Standard & Poor's 500 index was down a fraction at 2,401.
The Dow Jones industrial average gained 22 points, or 0.1 percent, to 21,004. The Nasdaq composite increased 10 points, or 0.2 percent, to 6,159.
Three stocks fell for every two that rose on the New York Stock Exchange.
Stocks are mostly higher in morning trading on Wall Street as the market adds modest gains to its record high close the day before.
Banks and consumer products makers were among the biggest winners early Tuesday. Citigroup rose 0.5 percent and Philip Morris International rose 0.8 percent.
Home Depot jumped 1.9 percent after reporting earnings and revenue that were better than analysts were expecting.
The Standard & Poor's 500 index rose 1 point, less than 0.1 percent, to 2,403.
The Dow Jones industrial average gained 28 points, or 0.1 percent, to 21,010. The Nasdaq composite increased 5 points, or 0.1 percent, to 6,154.