Markets Right Now: Energy stocks drop as oil falls

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

11:45 a.m.

Stocks are treading water at midday Tuesday as energy companies drop while less-riskier sectors of the market rise.

Oil prices are down more than 5% after surging over 14% Monday following a weekend attack on oil facilities in Saudi Arabia. Marathon Oil fell 6.3%.

Household product makers and health care companies were among the gainers. Procter & Gamble rose 1.1% and Merck gained 1.3%.

The Dow Jones Industrial Average fell 24 points, or 0.1%, to 27,052.

The S&P 500 is up 2 points at 3,000. The Nasdaq rose 7 points, or 0.1%, to 8,160.

Bonds rose. The yield on the 10-year Treasury fell to 1.80% from 1.84% Monday.

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9:45 a.m.

Stocks are treading water early Tuesday as energy companies give back some of Monday’s gains.

Oil prices are down more than 4% after surging over 14% Monday following a weekend attack on oil facilities in Saudi Arabia. Marathon Oil fell 6.3%.

Bank stocks are dropping for a second straight day. Bank of America slipped 1%.

Household product makers were among the early gainers. Colgate-Palmolive rose 1.5%.

The Dow Jones Industrial Average fell 72 points, or 0.3%, to 27,004.

The S&P 500 is down 2 points at 2,995. The Nasdaq rose 4 points to 8,157.

The yield on the 10-year Treasury held steady at 1.84% after dropping Monday.