Markets Right Now: Energy slump pulls stock market lower

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

4 p.m.

Stocks are closing mostly lower after an up-and-down day of trading as energy companies and retailers dragged the market lower.

A steep drop in the price of oil Wednesday pulled the energy sector lower. Devon Energy slumped 3.9 percent. Benchmark U.S. crude fell 2.9 percent.

Home improvement retailers did poorly. Lowe's sank 4.5 percent and Home Depot gave back 1.1 percent.

Several big tech companies rose. Facebook climbed 1.9 percent and Microsoft increased 1.5 percent.

The Standard & Poor's 500 index fell a fraction of a point to 2,629.

The Dow Jones industrial average gave back 39 points, or 0.2 percent, to 24,140. The Nasdaq composite added 14 points, or 0.2 percent, to 6,776.

Bond prices rose. The yield on the 10-year Treasury fell to 2.32 percent.

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11:45 a.m.

Stocks were holding steady in midday trading on Wall Street as the market stabilized following three days of losses.

The Standard & Poor's 500 index was little changed Wednesday as gains for some technology companies were offset by losses in energy and phone companies.

Facebook and Microsoft each rose 1.6 percent, while AT&T gave back 1.2 percent.

Discount retailer Fred's plunged 21 percent after suspending its dividend and saying it may sell some assets.

The Standard & Poor's 500 index was up less than a point to 2,630.

The Dow Jones industrial average rose 20 points, or 0.1 percent, to 24,201. The Nasdaq composite added 8 points, or 0.1 percent, to 6,771.

Bond prices rose. The yield on the 10-year Treasury fell to 2.33 percent.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street as banks back some of their recent gains and technology companies continued to struggle.

Apple fell 1 percent in early trading Wednesday and JPMorgan Chase fell a little under 1 percent.

Discount retailer Fred's plunged 21 percent after suspending its dividend and saying it may sell some assets.

The Standard & Poor's 500 index fell 1 point to 2,628.

The Dow Jones industrial average slipped 3 points, less than 0.1 percent, to 24,177. The Nasdaq composite was little changed at 6,769.

Bond prices rose. The yield on the 10-year Treasury fell to 2.3 percent.