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published on July 23, 2018 - 1:21 PM
Written by Associated Press

(AP) — The latest on developments in financial markets (all times local):

4 p.m.
Stocks are ending little changed on Wall Street as gains for banks are offset by losses in industrial companies and other sectors.

Banks rose Monday as bond yields moved sharply higher. JPMorgan Chase added 1.9 percent.

Industrial companies were broadly lower. Illinois Tool Works slumped 7.2 percent after forecasting earnings that were well below what analysts were expecting.

Fiat Chrysler fell 1.8 percent after announcing the early departure of CEO Sergio Marchionne due to health issues.

The S&P 500 index rose 5 points, or 0.2 percent, to 2,806.

The Dow Jones Industrial Average slipped 13 points, less than 0.1 percent, to 25,044. The Nasdaq composite climbed 21 points, or 0.3 percent, to 7,841.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.96 percent.

11:45 a.m.
Stocks are little changed in midday trading as gains for banks are offset by losses elsewhere in the market.

Illinois Tool Works slumped 7.5 percent Monday after forecasting earnings that were well below what analysts were expecting.

Fiat Chrysler fell 1.9 percent after announcing the early departure of CEO Sergio Marchionne due to health issues.

Hasbro soared 12.8 percent after reporting results that easily beat analysts’ forecasts.

The S&P 500 index slipped 2 points to 2,804.

The Dow Jones Industrial Average lost 11 points, or 0.1 percent, to 25,046. The Nasdaq composite edged up 8 points, or 0.1 percent, to 7,829.

More stocks fell than rose on the New York Stock Exchange.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.95 percent from 2.89 percent.

9:35 a.m.
Stocks are opening slightly lower on Wall Street, led by declines in technology companies and retailers.

Nvidia fell 1.8 percent and Amazon lost 1.4 percent early Monday.

Fiat Chrysler fell 2.8 percent after announcing the early departure of CEO Sergio Marchionne due to health issues.

Tesla dropped 5.7 percent after the Wall Street Journal reported that the company is seeking rebates from suppliers in order to raise cash.

The S&P 500 index fell 4 points, or 0.2 percent, to 2,796.

The Dow Jones Industrial Average lost 24 points, or 0.1 percent, to 25,034. The Nasdaq composite fell 40 points, or 0.5 percent, to 7,782.


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