Markets Right Now: S&P 500 has second straight weekly loss

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

4 p.m.

Stocks are closing lower on Wall Street, led by drops in technology companies, as the market gives back some of its big gain from a day earlier.

Intel lost 2.2 per cent Friday and Google’s parent company Alphabet fell 1.2 per cent. Health care and industrial stocks also fell.

The declines left the Standard & Poor’s 500 index down for the second week in a row following eight weeks of gains.

Smaller companies and retailers did well. Foot Locker soared 28 per cent after issuing a strong forecast.

The S&P 500 fell 6 points, or 0.3 per cent, to 2,578.

The Dow Jones industrial average gave up 100 points, or 0.4 per cent, to 23,358. The Nasdaq slipped 10 points, or 0.2 per cent, to 6,782. The Nasdaq closed at a record high a day earlier.

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11:45 a.m.

Stocks are moving mostly lower on Wall Street as the market pulls back after a big gain the day before.

Technology stocks, which rose sharply a day earlier and still lead the market overall this year, led the market lower Friday.

Williams-Sonoma dropped 13 per cent after issuing a weak forecast.

Other retailers were faring better. Foot Locker soared 25 per cent after reporting results that were far better than analysts were expecting.

The Standard & Poor’s 500 index fell 3 points, or 0.1 per cent, to 2,581.

The Dow Jones industrial average gave up 87 points, or 0.4 per cent, to 23,371. The Nasdaq composite was little changed at 6,792. The Nasdaq closed at a record high a day earlier.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street as the market pulls back after a big gain the day before.

Technology stocks, which rose sharply a day earlier and still lead the market overall this year, fell the most. Banks were also lower.

Williams-Sonoma dropped 12 per cent after issuing a weak forecast.

Other retailers were faring better. Foot Locker soared 26 per cent after reporting results that were far better than analysts were expecting.

The Standard & Poor’s 500 index fell 2 points, or 0.1 per cent, to 2,582.

The Dow Jones industrial average gave up 69 points, or 0.3 per cent, to 23,388. The Nasdaq composite was little changed at 6,794. The Nasdaq closed at a record high a day earlier.