Markets Right Now: Stocks drift lower on Wall Street

Markets Associated Press

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

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4:00 p.m.

Stocks are closing slightly lower following some rare earnings disappointments.

Small-company stocks fell more than the rest of the market Wednesday. Consumer-focused companies and banks were among the biggest decliners.

Investors kept a wary eye on escalating tensions between the U.S. and North Korea. Gold prices rose.

Disney dropped 3.9 percent after reporting a weak quarter and saying it would pull its movies from Netflix and start its own video streaming services. Watch maker Fossil Group plunged 25 percent after reporting a weak quarter.

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The Standard & Poor's 500 index fell less than a point to 2,474, making up much of the ground it lost earlier.

The Dow Jones industrial average fell 36 points, or 0.2 percent, to 22,048. The Nasdaq composite lost 18 points, or 0.3 percent, to 6,352.

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11:45 a.m.

Stocks are lower at midday as investors weighed the growing tensions between the U.S. and North Korea.

Disappointing earnings also helped pull the market lower Wednesday. Consumer-focused companies and technology stocks slumped.

Markets were also lower in Europe and Asia. Prices for bonds and gold headed higher.

Priceline Group dropped 8 percent after issuing a profit forecast that was weaker than analysts were expecting.

Disney dropped 4.5 percent after reporting a weak quarter and saying it would pull its movies from Netflix and start its own video streaming services.

The Standard & Poor's 500 index fell 7 points, or 0.3 percent, to 2,467.

The Dow Jones industrial average lost 71 points, or 0.3 percent, to 22,013. The Nasdaq composite fell 35 points, or 0.5 percent, to 6,336.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street after several companies reported disappointing results.

Overseas markets were also lower Wednesday.

Priceline Group slumped 6.5 percent after issuing a profit forecast that was weaker than analysts were expecting.

Disney dropped 4.5 percent after reporting a weak quarter and saying it would pull its movies from Netflix and start two of its own video streaming services. Netflix fell 3.2 percent.

The Standard & Poor's 500 index fell 7 points, or 0.3 percent, to 2,467.

The Dow Jones industrial average lost 50 points, or 0.2 percent, to 22,032. The Nasdaq composite fell 45 points, or 0.7 percent, to 6,324.