Markets Right Now: Plunging retailers pull stocks lower

Markets Associated Press

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

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4:00 p.m.

Stocks are ending mostly lower after several retailers released disappointing results and outlooks.

Dick's Sporting Goods and Advance Auto Parts plunged Tuesday after slashing their annual forecasts.

Bond prices fell, sending yields higher. That helped bank stocks.

Streaming music service Pandora rose 4 percent after naming a new CEO. Roger Lynch had been head of Dish's streaming video service.

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The Standard & Poor's 500 index fell 1 point to 2,464.

The Dow Jones industrial average rose 5 points to 21,998. The Nasdaq composite edged down 7 points, or 0.1 percent, to 6,333.

Small-company stocks fell more than the rest of the market. The Russell 2000 index slumped 11 points, or 0.8 percent, to 1,383.

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11:45 a.m.

U.S. stocks are mostly lower in midday trading following some disappointing results from retailers.

Advance Auto Parts plunged 25 percent after slashing its forecasts, and luxury handbag maker Coach dropped 14 percent after its fourth-quarter sales and its profit forecast came up short of analysts' estimates

Home Depot lost 3 percent after issuing its own quarterly report.

Bond prices fell, sending yields higher. That helped bank stocks.

Streaming music service Pandora rose 3 percent after naming a new CEO. Roger Lynch had been head of Dish's streaming video service.

The Standard & Poor's 500 index fell 2 points, or 0.1 percent, to 2,463.

The Dow Jones industrial average was little changed at 21,992. The Nasdaq composite edged down 8 points, or 0.1 percent, to 6,331.

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9:35 a.m.

Stocks are opening modestly higher on Wall Street, led again by gains in banks and technology companies.

JPMorgan Chase rose 1 percent in the first few minutes of trading Tuesday and Advanced Micro Devices jumped 1.8 percent.

Streaming music service Pandora rose 4.6 percent after naming a new CEO. Roger Lynch had been head of Dish's streaming video service.

The Standard & Poor's 500 index rose 1 point to 2,467.

The Dow Jones industrial average rose 26 points, or 0.1 percent, to 22,020. The Nasdaq composite edged up 3 points, or 0.1 percent, to 6,343.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.27 percent.