Markets Right Now: US stocks drift to a mostly lower close

EnergyAssociated Press

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

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4 p.m.

Stocks drifted to a mostly lower close on Wall Street as trading calmed down following a turbulent few days earlier this week.

Small-company stocks fell broadly Thursday, but the Dow Jones Industrial Average of big-name companies managed a small gain thanks to increases in a few of its components including McDonald's and Procter & Gamble.

Banks fell. Wells Fargo lost 1.4 percent.

The S&P 500 index slipped less than 1 point to 2,650.

The Dow rose 70 points, or 0.3 percent, to 24,597. The Nasdaq composite fell 27 points, or 0.4 percent, to 7,070.

More stocks fell than rose on the New York Stock Exchange.

The price of crude oil turned higher.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.91 percent.

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11:45 a.m.

Stocks are mixed in midday trading on Wall Street as by gains in technology companies were offset by declines elsewhere.

Apple rose 1.7 percent Thursday and Procter & Gamble rose 2.6 percent.

Banks were broadly lower. Wells Fargo lost 1 percent.

General Electric jumped 9.7 percent after JPMorgan removed the struggling company from a list of stocks it was concerned about. GE got kicked out of the Dow Jones Industrial Average earlier this year.

The S&P 500 index rose 4 points, or 0.2 percent, to 2,659.

The Dow rose 157 points, or 0.6 percent, to 24,683. The Nasdaq composite fell 9 points, or 0.1 percent, to 7,102.

Small-company stocks fell.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.91 percent.

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9:35 a.m.

Stocks are off to a solid start on Wall Street as health care and industrial companies rise.

Pfizer added 1.5 percent in early trading Thursday and General Electric jumped 10.3 percent after JPMorgan said it removed it from a list of stocks it was concerned about.

Aflac rose 6 percent after confirming that Japan Post Holdings was interested in taking a stake in the company.

The S&P 500 index gained 16 points, or 0.6 percent, to 2,667.

The Dow Jones Industrial Average rose 140 points, or 0.6 percent, to 24,666. The Nasdaq rose 48 points, or 0.7 percent, to 7,146.

Oil prices fell and bond yields held steady.