Markets Right Now: US stocks turn lower in midday trade


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, 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 percent, 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 percent after reporting weak sales and cutting its revenue estimate for the year.

The Dow was down 46 points, or 0.3 percent, 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 percent, to 5,102.

Bond prices barely budged. The yield on the 10-year Treasury note held steady at 1.57 percent.

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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 percent 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 percent 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 percent, to 5,106.

Bond prices barely budged. The yield on the 10-year Treasury note held steady at 1.57 percent.

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