Markets Right Now: Stocks mostly lower as tech shares drop

Michael UrkonisThe Associated Press
Trader Michael Urkonis works on the floor of the New York Stock Exchange, Friday, Sept. 13, 2019. Stocks are having a mixed performance early on Wall Street Friday as gains in banks and energy companies are offset somewhat by a drop in technology stocks. (AP Photo/Richard Drew)

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

4:00 p.m.

Stocks are closing mostly lower Friday as a decline in technology stocks offsets a strong performance by Wall Street banks.

Apple dropped 1.9% and Broadcom fell 3.4% after the chipmaker warned that demand remains weak.

JPMorgan rose 2% and Citigroup gained 1.6%. Banks were bolstered by the action in the bond market, where the yield on the 10-year Treasury jumped to 1.90% from 1.79% a day earlier.

The S&P 500 fell 2 points, or 0.1%, to 3,007, but finished with a weekly gain of 1%. The Nasdaq, which has a heavy weighting of tech stocks, slipped 17 points, or 0.2%, to 8,176.

The Dow Jones industrials posted its eighth straight gain, rising 37 points, or 0.1%, to 27,219.

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11:55 a.m.

Stocks are having a mixed performance so far on Wall Street Friday as gains in banks and health care companies are offset somewhat by a drop in technology stocks.

The Dow Jones industrials rose 59 points, or 0.2%, to 27,241. The index has risen for seven consecutive days.

Tech stocks are lower after leading the market's gains the past two days. Apple fell 2%.

The S&P 500 is up 3 points, or 0.1%, to 3,012, and is about 13 points below its all-time high. But the Nasdaq, which has a heavy weighting of tech stocks, slipped 5 points, or 0.1%, to 8,188.

Bonds continued their recent sell-off. The yield on the 10-year Treasury, which moves inversely to the price, rose to 1.87%. That helped bank stocks, with JPMorgan rising 1.7%.

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9:45 a.m.

Stocks are having a mixed performance early on Wall Street Friday as gains in banks and energy companies are offset somewhat by a drop in technology stocks.

The Dow Jones industrials rose 45 points, or 0.1%, to 27,227. The index has risen for seven consecutive days.

Tech stocks led the market's gains the past two days, but opened lower Friday. Apple fell 1.4%.

The S&P 500 is up 3 points, or 0.1%, to 3,012, and is about 13 points shy of its all-time high. But the Nasdaq, which has a heavy weighting of tech stocks, slipped 7 points, or 0.1%, to 8,186.

Bonds continued their recent sell-off. The yield on the 10-year Treasury, which moves inversely to the price, rose to 1.83%. That helped bank stocks, with JPMorgan rising 1.3%.