Markets Right Now: Oil price slump pulls energy stocks lower
NEW YORK – The latest on developments in financial markets (All times local):
4:00 p.m.
Energy companies led U.S. stock indexes broadly lower as the price of crude oil declined.
Marathon Oil slumped 4.1 per cent Monday.
Phone company and real estate stocks were also lower.
Newell Brands, which makes Rubbermaid and Sharpie products, fell 5.7 per cent after reporting revenue that fell short of analysts’ estimates.
Hasbro soared 14.1 per cent after its results came in way ahead of forecasts.
The Standard & Poor’s 500 index fell 4 points, or 0.2 per cent, to 2,292.
The Dow Jones industrial average lost 19 points, or 0.1 per cent, to 20,052. The Nasdaq fell 3 points, or 0.1 per cent, to 5,663.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.42 per cent.
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11:45 a.m.
Energy companies led U.S. stock indexes mostly lower in midday trading as the price of crude oil declined.
NRG Energy slumped 3 per cent Monday.
Phone company and materials stocks were also among the big decliners.
Newell Brands, which makes Rubbermaid and Sharpie products, fell 5 per cent after reporting revenue that fell short of analysts’ estimates.
Hasbro soared 15 per cent after its results came in way ahead of forecasts.
The Standard & Poor’s 500 index fell 4 points, or 0.2 per cent, to 2,292.
The Dow Jones industrial average lost 13 points, or 0.1 per cent, to 20,058. The Nasdaq fell 3 points, or 0.1 per cent, to 5,663.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.43 per cent.
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9:35 a.m.
Stocks are edging lower in early trading on Wall Street, led by declines in banks and materials companies.
Banks and other financial companies were down Monday as bond yields fell, which forces interest rates lower on loans. Zions Bancorporation dropped 1.3 per cent.
In earnings news, Newell Brands, which makes Rubbermaid and Sharpie products, fell 4 per cent after reporting revenue that fell short of analysts’ estimates.
Hasbro soared 15 per cent after its results came in way ahead of forecasts.
The Standard & Poor’s 500 index fell 4 points, or 0.2 per cent, to 2,292.
The Dow Jones industrial average lost 25 points, or 0.1 per cent, to 20,046. The Nasdaq fell 13 points, or 0.2 per cent, to 5,653.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.43 per cent.
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