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

4:00 p.m.

Stocks are closing broadly lower as a number of retailers drop after reporting disappointing results.

Macy's plunged 17 percent Thursday after the struggling department store operator reported lower sales as more people shop online.

Snap, the parent company of Snapchat, dropped 21.5 percent after reporting a huge loss.

Some energy companies bucked the downward trend and rose along with the price of crude oil. Exxon Mobil gained 0.9 percent.

The Standard & Poor's 500 index fell 5 points, or 0.2 percent, to 2,394.

The Dow Jones industrial average lost 23 points, or 0.1 percent, to 20,919. The Nasdaq composite gave up 13 points, or 0.2 percent, to 6,115.

Small-company stocks fell more than the rest of the market. The Russell 200 index dropped 9 points, or 0.7 percent, to 1,390.

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11:45 a.m.

Stocks are broadly lower in midday trading on Wall Street as a number of retailers drop after reporting disappointing results.

Macy's plunged 14 percent Thursday after the struggling department store operator reported lower sales as more people shop online. Kohl's and Dillard's also fell.

Snap, the parent company of Snapchat, plunged 19 percent after reporting a huge loss.

Energy companies bucked the downward trend and rose along with the price of crude oil.

The Standard & Poor's 500 index fell 12 points, or 0.5 percent, to 2,386.

The Dow Jones industrial average lost 89 points, or 0.4 percent, to 20,853. The Nasdaq composite gave up 35 points, or 0.6 percent, to 6,093.

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9:35 a.m.

Stocks are off to a weak start on Wall Street, as banks and technology companies take losses.

Wells Fargo lost 1.6 percent in early trading Thursday, while Microsoft sank 1.3 percent.

In earnings news, Snap, the parent company of Snapchat, plunged 22 percent after reporting a huge loss.

Macy's dropped 10 percent after reporting weaker results that analysts were expecting.

The Standard & Poor's 500 index fell 6 points, or 0.3 percent, to 2,393.

The Dow Jones industrial average lost 30 points, or 0.2 percent, to 20,911. The Nasdaq composite gave up 17 points, or 0.3 percent, to 6,111.