published on May 1, 2019 - 1:23 PM
Written by Associated Press
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(AP) — The latest on developments in financial markets (all times local):

4 p.m.
Stocks gave up some early gains and ended broadly lower after the head of the Federal Reserve appeared to play down the possibility of an interest rate cut this year, something some investors had been hoping for.

Energy companies and retailers fell more than the rest of the market Wednesday. Exxon Mobil lost 2% and Home Depot gave up 2.4%.

Safe-play stocks like utilities and real estate companies held up better. Simon Property Group jumped 2.3%.

The S&P 500 fell 22 points, or 0.8%, to 2,923. The benchmark index is coming off three record high closes in a row.

The Dow Jones Industrial Average fell 162 points, or 0.6%, to 26,430. The Nasdaq fell 45 points, or 0.6%, to 8,049.

Bond prices fell. The yield on the 10 year Treasury rose to 2.51%.

11:45 a.m.
Stocks are moving higher on Wall Street after several big U.S. companies reported earnings that were better than analysts were expecting.

Apple jumped 6.7% Wednesday after the iPhone maker reported results that beat estimates and announced a 5% increase in its dividend.

CVS Health rose 5.5% and Estee Lauder climbed 1.4%. Both companies also reported earnings that came in above forecasts.

Safe-play sectors like utilities fell.

The S&P 500 index rose 3 points, or 0.1%, to 2,949.

The Dow Jones Industrial Average rose 41 points, or 0.2%, to 26,634. The Nasdaq rose 40 points, or 0.5%, to 8,136.

Bond prices rose, sending yields lower, after a report on the manufacturing sector came in weaker than analysts anticipated.

The yield on the 10 year Treasury fell to 2.48%.

9:35 a.m.
Stocks are opening higher on Wall Street after several big U.S. companies reported earnings that were better than analysts were expecting.

Apple jumped 5.1% early Wednesday after the iPhone maker reported results that beat estimates and announced a 5% increase in its dividend.

CVS Health rose 4.2% and Estee Lauder climbed 2.6%. Both companies also reported earnings that came in above forecasts.

Safe-play sectors like utilities fell.

The S&P 500 index rose 5 points, or 0.2%, to 2,951.

The Dow Jones Industrial Average rose 31 points, or 0.1%, to 26,624. The Nasdaq rose 38 points, or 0.5%, to 8,133.

Bond prices didn’t move much. The yield on the 10 year Treasury held steady at 2.50%.


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