Markets Right Now: Stocks are little changed in early trade

NEW YORK, N.Y. – The latest on developments in global financial markets (all times local):

9:35 a.m.

Stocks are little changed in early trading after setting records the last few days.

Utility companies are making the largest gains Wednesday while energy companies fall with the price of oil.

Generic drug company Teva Pharmaceutical Industries rose 6 per cent after it gave strong projections for the second quarter and gets closer to completing a $40.5 billion deal for Allergan’s generic drug business.

Arts and crafts chain Michaels fe3ll 5 per cent on a disappointing forecast.

The Dow Jones industrial average added 9 points, or 0.1 per cent, to 18,356. The Standard & Poor’s 500 was little changed at 2,152. The Nasdaq composite also held steady at 5,023.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.47 per cent from 1.51 per cent.