Markets Right Now: US stock indexes edge lower at midday

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

11:45 a.m.

Stocks are mostly lower on Wall Street as a New Year’s rally loses steam.

Weakness in health care companies and banks was outweighing gains for retailers and other sectors in midday trading Monday.

Drugmaker AbbVie was down 1.7 per cent, while Citigroup was off 1.2 per cent.

Several retailers were higher. Kohl’s jumped 5.9 per cent after reporting strong holiday sales.

Camera maker GoPro plunged 20 per cent after announcing weak sales and a restructuring.

The Standard & Poor’s 500 index slipped a fraction of a point to 2,742.

The Dow Jones industrial average gave up 33 points, or 0.1 per cent, to 25,263. The Nasdaq composite edged up 12 points, or 0.2 per cent, to 7,148.

Bond prices didn’t move much. The yield on the 10-year Treasury held steady at 2.48 per cent.

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9:35 a.m.

Stock indexes are opening slightly lower on Wall Street as losses in banks and health care stocks outweigh gains in other sectors.

Drugmaker AbbVie was down 1.9 per cent in early trading Monday, one of the biggest losses in the Standard & Poor’s 500 index. Bank of America was down about 1 per cent.

Several retailers were higher. Kohl’s jumped 6.8 per cent after reporting strong holiday sales. Crocs rose 3.4 per cent and Boot Barn climbed 1.5 per cent. Macy’s gained 1.6 per cent.

The S&P 500 index slipped 4 points, or 0.2 per cent, to 2,738.

The Dow Jones industrial average gave up 48 points, or 0.2 per cent, to 25,245. The Nasdaq composite edged down 8 points, or 0.1 per cent, to 7,128.