NEW YORK, N.Y. – The latest on developments in global financial markets (all times local):
11:45 a.m.
Stocks are mostly lower in midday trading, putting the market on track for its second loss in a row.
The slump Tuesday comes as investors monitor corporate earnings from Gilead, McDonald’s, Texas Instruments and other companies.
McDonald’s dropped 4 per cent, the biggest loss in the Dow Jones industrial average, after the hamburger chain reported disappointing sales growth in the U.S.
Biotechnology company Gilead Sciences fell 8 per cent after reporting weak sales and cutting its revenue estimate for the year.
The Dow was down 46 points, or 0.3 per cent, to 18,446.
The Standard & Poor’s 500 index fell a point to 2,166. The Nasdaq composite edged up 4 points, or 0.1 per cent, to 5,102.
Bond prices barely budged. The yield on the 10-year Treasury note held steady at 1.57 per cent.
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9:35 a.m.
Stocks are off to a mixed start on Wall Street as investors pore over a large batch of corporate earnings reports.
McDonald’s slumped 3 per cent in early trading Tuesday, the biggest loss in the Dow Jones industrial average, after the hamburger chain reported disappointing sales growth in the U.S.
Biotechnology company Gilead Sciences dropped 7 per cent after reporting weak sales and cutting its revenue estimate for the year.
The Dow edged up 11 points to 18,505.
The Standard & Poor’s 500 index was little changed at 2,171. The Nasdaq composite edged up 8 points, or 0.1 per cent, to 5,106.
Bond prices barely budged. The yield on the 10-year Treasury note held steady at 1.57 per cent.
