Markets Right Now: Technology stocks lead US indexes lower
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are falling on Wall Street in midday trading, weighed down by losses in technology and communications companies.
Microsoft lost 1.8% Friday, and Facebook gave up 2.5%.
Makers of consumer products were bucking the downward trend. Coca-Cola rose 1.8% after turning in a solid quarterly earnings report.
The market is still on track for its second weekly gain after three straight losing weeks.
The S&P 500 fell 12 points, or 0.4%, to 2,985.
The Dow Jones Industrial Average fell 123 points, or 0.5%, to 26,900. The Nasdaq fell 81 points, or 1%, to 8,075.
Bond prices rose. The yield on the 10-year Treasury fell to 1.74%.
Stocks are opening slightly lower on Wall Street but are still on track for their second weekly gain in a row.
Technology and industrial companies were falling the most in early trading Friday. Micron Technology fell 2.1% and Waste Management gave up 1.2%.
Earnings reports from U.S. companies continued to flow in. Intuitive Surgical jumped 5.1% after reporting profits that easily beat analysts’ forecasts.
The S&P 500 slipped less than 1 point to 2,997.
The Dow Jones Industrial Average fell 40 points, or 0.1%, to 26,985. The Nasdaq fell 6 points, or 0.1%, to 8,147.
The yield on the 10-year Treasury held steady at 1.75%.