Markets Right Now: US stocks mostly lower at midday


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

11:45 a.m.

Stocks are mostly lower in midday trading as a slide in consumer staples stocks outweighs a gain in technology companies.

Coca-Cola dropped almost 4 percent Wednesday after cutting its sales outlook for the year, citing weakening demand in major international markets including China.

Apple soared 7 percent after reporting bigger than expected profits. Twitter plunged 13 percent after reporting weak sales.

The Dow Jones industrial average fell 16 points, or 0.1 percent, to 18,457.

The Standard & Poor’s 500 index lost 4 points, or 0.2 percent, to 2,164. The Nasdaq composite gained 23 points, or 0.5 percent, to 5,132.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.54 percent.

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9:35 a.m.

Stocks are opening higher, led by gains in technology stocks after Apple posted solid quarterly earnings.

Apple soared 8 percent after reporting bigger than expected profits. Other technology shares mostly rose, but Twitter plunged 12 percent after reporting weak sales.

The Dow Jones industrial average rose 55 points, or 0.3 percent, to 18,535.

The Standard & Poor’s 500 index edged 3 points, or 0.2 percent, to 2,172. The Nasdaq composite gained 33 points, or 0.6 percent, to 5,142.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.55 percent.

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