NEW YORK, N.Y. – The latest on developments in global financial markets (all times local):
Stocks are closing mostly lower on Wall Street, led by declines in phone companies, health care and energy stocks.
Verizon fell 2 per cent Friday, the biggest drop in the Dow Jones industrial average. AT&T lost 3 per cent following reports that the company was considering a deal to acquire the media conglomerate Time Warner.
Oil and gas stocks also took some losses. Southwestern Energy fell 8 per cent. Among health care companies, Cerner sank 5.4 per cent.
The Dow fell 16 points, or 0.1 per cent, to 18,145.
The Standard & Poor’s 500 index fell a fraction to 2,141. The Nasdaq composite gained 15 points, or 0.3 per cent, to 5,257.
Bond prices rose. The yield on the 10-year Treasury note fell to 1.74 per cent.