Markets Proper Now: Shares largely decrease as tech shares drop

The newest on developments in monetary markets (all occasions native):

4:00 p.m.

Shares are closing largely decrease Friday as a decline in expertise shares offsets a robust efficiency by Wall Avenue banks.

Apple dropped 1.9% and Broadcom fell 3.4% after the chipmaker warned that demand stays weak.

JPMorgan rose 2% and Citigroup gained 1.6%. Banks had been bolstered by the motion within the bond market, the place the yield on the 10-year Treasury jumped to 1.90% from 1.79% a day earlier.

The S&P 500 fell 2 factors, or 0.1%, to three,007, however completed with a weekly achieve of 1%. The Nasdaq, which has a heavy weighting of tech shares, slipped 17 factors, or 0.2%, to eight,176.

The Dow Jones industrials posted its eighth straight achieve, rising 37 factors, or 0.1%, to 27,219.

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11:55 a.m.

Shares are having a blended efficiency to date on Wall Avenue Friday as positive aspects in banks and well being care firms are offset considerably by a drop in expertise shares.

The Dow Jones industrials rose 59 factors, or 0.2%, to 27,241. The index has risen for seven consecutive days.

Tech shares are decrease after main the market’s positive aspects the previous two days. Apple fell 2%.

The S&P 500 is up Three factors, or 0.1%, to three,012, and is about 13 factors under its all-time excessive. However the Nasdaq, which has a heavy weighting of tech shares, slipped 5 factors, or 0.1%, to eight,188.

Bonds continued their current sell-off. The yield on the 10-year Treasury, which strikes inversely to the worth, rose to 1.87%. That helped financial institution shares, with JPMorgan rising 1.7%.

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9:45 a.m.

Shares are having a blended efficiency early on Wall Avenue Friday as positive aspects in banks and vitality firms are offset considerably by a drop in expertise shares.

The Dow Jones industrials rose 45 factors, or 0.1%, to 27,227. The index has risen for seven consecutive days.

Tech shares led the market’s positive aspects the previous two days, however opened decrease Friday. Apple fell 1.4%.

The S&P 500 is up Three factors, or 0.1%, to three,012, and is about 13 factors shy of its all-time excessive. However the Nasdaq, which has a heavy weighting of tech shares, slipped 7 factors, or 0.1%, to eight,186.

Bonds continued their current sell-off. The yield on the 10-year Treasury, which strikes inversely to the worth, rose to 1.83%. That helped financial institution shares, with JPMorgan rising 1.3%.