Markets Right Now: Stocks lower led by consumer companies


NEW YORK (AP) — The latest on developments in global financial markets (all times local):

12:00 p.m.

Stocks are trading lower on Wall Street as investors worry about the health of Europe’s banks and the U.S economy. Consumer companies and machinery makers are taking some of the biggest losses. Bond prices are falling and sending yields higher.

Royal Caribbean fell more than 6 percent after the cruise operator lowered its guidance.

Oil started the day higher but by midday those gains reversed. It’s down 1.5 percent at $39.45 a barrel in New York.

The Dow Jones industrial average is down 118 points, or 0.6 percent, to 18,286.

The Standard & Poor’s 500 index is down 18 points, or 0.8 percent, to 2,153. The Nasdaq composite fell 56 points, or 1.1 percent, to 5,128.

The yield on the 10-year Treasury note rose to 1.54 percent.

___

9:50 a.m.

Stocks are opening mostly lower on Wall Street as worries over the financial health of Europe’s banks and skepticism over the Japanese government’s latest stimulus package weighed on global markets.

Royal Caribbean fell nearly 4 percent early Tuesday after the cruise operator lowered its guidance.

Oil rebounded after a days-long slide took the price of crude to a nearly four-month low. It’s up 1.7 percent at $40.75 a barrel in New York.

The Dow is down 36 points, or 0.2 percent, to 18,367.

The Standard & Poor’s 500 index is down 6 points, or 0.3 percent, to 2,165. The Nasdaq composite fell 21 points, or 0.4 percent, to 5,163.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.56 percent.

comments powered by Disqus