Markets Right Now: Stocks trading flat


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

11:50

Stocks are nearly flat on Wall Street in midday trading as the market extends its sideways trajectory of recent weeks.

Stocks in Europe gained after the Bank of England unveiled a series of stimulus measures. Utilities are leading the gainers while banks dropped the most.

Applications for unemployment aid rose to 269,000, a level close to historical lows and a positive sign for the job market. Mobile payments company Square climbed 13 percent after it reported strong second-quarter results and raised its projections for the year.

The Dow Jones industrial average is unchanged at 18,355. The Standard & Poor’s 500 index is up 2 points, or 0.1 percent, to 2,166. The Nasdaq composite is up 6 points, or 0.1 percent, to 5,166.

Oil prices are rising and the bond yield on the 10-year Treasury slipped to 1.5 percent.

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9:45 a.m.

Stocks are opening flat on Wall Street following modest gains a day earlier.

The Bank of England unveiled a series of stimulus measures including its first interest rate cut since the global financial crisis, lifting stocks in Europe. Asian markets also gained.

Travel website TripAdvisor fell 8 percent on disappointing earnings. Payment processor Square jumped 16 percent after saying its profit rose strongly in the second quarter and lifted its full-year guidance.

The Dow Jones industrial average is up 15 points, or 0.1 percent, to 18375.

The Standard & Poor’s 500 index is up 1 point, or 0.1 percent, to 2,165. The Nasdaq composite was unchanged at 5,159.

Oil prices are down slightly, and the bond yield on the 10-year Treasury slid to 1.5 percent.

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