Markets Right Now: Stocks drift mostly lower; Dow at high
By The Associated Press, Associated Press
Jun 14, 2017 3:13 PM CDT

The latest on developments in financial markets (All times local):

4:00 p.m.

Stocks closed mostly lower on Wall Street after a weak report on retail sales got investors worried about the economy.

Small-company stocks fell more than the rest of the market Wednesday. High-dividend sectors like consumer goods makers and utilities gained as investors shifted money into lower-risk investments.

Bond prices also rose, sending yields to their lowest level of the year. The yield on the 10-year Treasury note fell to 2.13 percent.

Big gains by Home Depot and Goldman Sachs helped send the Dow Jones industrial average to another record high.

The Standard & Poor's 500 index slipped 2 points, or 0.1 percent, to 2,437.

The Dow rose 46 points, or 0.2 percent, to 21,374. The Nasdaq fell 25 points, or 0.4 percent, to 6,194.

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11:45 a.m.

A weak report on retail sales prompted investors to shift money into bonds and high-dividend stocks. Major indexes were mixed.

The yield on the 10-year Treasury fell to 2.11 percent at midday Wednesday from 2.21 percent the day before. That's a big move.

Investors buy bonds, which sends yields lower, when they see signs of weakness in the economy. Retail sales had their biggest drop in 16 months in May.

High-dividend stocks like real estate investment trusts and utilities rose. Banks fell. Energy stocks fell along with the price of crude oil.

The Standard & Poor's 500 index slipped 2 points, or 0.1 percent, to 2,438.

The Dow Jones industrial average edged up 13 points, or 0.1 percent, to 21,340. The Nasdaq rose 7 points, or 0.1 percent, to 6,228.

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9:35 a.m.

A weak report on retail sales sent bond yields lower and high-dividend stocks like utilities and real estate companies higher.

The yield on the benchmark 10-year Treasury note fell to 2.13 percent early Wednesday from 2.21 percent the day before. Investors tend to buy bonds, which sends yields lower, when they see signs of weakness in the economy.

Likewise, safe-play stocks like utilities rose. NextEra Energy gained 1.4 percent.

The Standard & Poor's 500 index slipped 1 point, or 0.1 percent, to 2,439.

The Dow Jones industrial average was little changed at 21,325. The Nasdaq was also flat at 6,217.