Markets Right Now: Mixed finish on Wall Street for stocks
Stocks drifted to a mixed finish on Wall Street as losses for banks and consumer products makers outweighed gains elsewhere in the market.
FILE- In this Feb. 5, 2019, file photo trader Michael Urkonis works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, Feb. 14. (AP Photo/Richard Drew, File)
NEW YORK (AP) -- The latest on developments in financial markets (all times local):
4 p.m.
Stocks drifted to a mixed finish on Wall Street as losses for banks and consumer products makers outweighed gains elsewhere in the market.
A small loss for the S&P 500 Thursday broke a four-day winning streak for the benchmark index.
The market started lower after the government reported a surprise drop in retail sales in December, then clawed back much of those losses and drifted the rest of the day.
Coca-Cola dropped 8.4 percent after saying the strong dollar could slow its sales.
Cisco rose 1.9 percent after announcing a big stock buyback.
The S&P 500 fell 7 points, or 0.3 percent, to 2,745.
The Dow Jones Industrial Average lost 103 points, or 0.4 percent, to 25,439. The Nasdaq edged up 6 points, or 0.1 percent, to 7,426.
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11:45 a.m.
Stocks are mostly lower on Wall Street after the government reported a surprise drop in retail sales last month.
Banks and consumer products makers took some of the biggest losses Thursday.
Wells Fargo lost 1.4 percent, and Coca-Cola dropped 7.3 percent after saying the strong dollar could slow its sales in the coming year.
Technology companies bucked the downward trend. Cisco rose 2.9 percent after announcing a big stock buyback.
The S&P 500 fell 8 points, or 0.3 percent, to 2,745.
The Dow Jones Industrial Average lost 109 points, or 0.7 percent, to 25,432. The Nasdaq was little changed at 7,422.
Bond prices rose sharply after the weak retail sales report. The yield on the 10-year Treasury fell to 2.66 percent.
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9:35 a.m.
Stock prices are opening broadly lower after the government reported a surprise drop in retail sales last month, raising concerns about how healthy the U.S. economy is.
Retailers took some of the heaviest selling in early trading Thursday. Amazon sank 1.2 percent.
Makers of consumer products were also broadly lower after Coca-Cola said the strong dollar could slow sales in the coming year.
Coke plunged 6.9 percent.
The S&P 500 fell 16 points, or 0.6 percent, to 2,736.
The Dow Jones Industrial Average lost 187 points, or 0.7 percent, to 25,355. The Nasdaq fell 28 points, or 0.4 percent, to 7,391.
Bond prices rose sharply after the weak retail sales report. The yield on the 10-year Treasury fell to 2.65 percent.
