Markets Right Now: Late buying burst leaves stocks higher

AP

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

4 p.m.

A late burst of buying left stocks mostly higher on Wall Street after indexes spent much of the day lower.

Apple rose 1.2% Tuesday after announcing a new slate of iPhones and other products.

Apple also announced a $5 a month video service, which would be cheaper than rival offerings. Netflix and Disney each fell 2.2%.

The S&P 500 edged up just under 1 point to 2,979.

The Dow Jones Industrial Average rose 73 points, or 0.3%, to 26,909. The Nasdaq fell 3 points, less than 0.1%, to 8,084.

Small-company stocks rose much more than the rest of the market. The Russell 2000 index climbed 18 points, or 1.2%, to 1,542.

Bond prices fell sharply, sending yields higher. The yield on the 10-year Treasury rose to 1.73%.

___

11:45 a.m.

Stocks moved broadly lower in midday trading on Wall Street as investors again back away from technology companies.

The tech sector led the losses in the S&P 500 for a second straight day Tuesday.

Microsoft fell 1.7% and PayPal shed 2.1%. The shift contrasts with the last few weeks, when the sector drove much of the market gains.

Health care stocks were also among the biggest losers. Merck shed 2.8% and Abbott fell 3.1%.

The S&P 500 slipped 12 points, or 0.4%, to 2,965.

The Dow Jones Industrial Average fell 18 points, or 0.1%, to 26,816. The Nasdaq dropped 41 points, or 0.5%, to 8,045.

Small-company stocks bucked the downward trend and rose.

Bond prices fell. The yield on the 10-year Treasury rose to 1.68%.

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9:45 a.m.

Stocks are opening lower on Wall Street Tuesday as technology stocks fall for a second straight day.

Microsoft fell 1.6% while PayPal dropped 3.5%.

Consumer-focused stocks also fell. Ford dropped 5% after credit ratings service Moody's cut the auto company's credit rating to junk status.

Bond prices fell. The yield on the 10-year Treasury rose to 1.65%. That gave a boost to banks, as higher yields allow them to earn more from lending. JPMorgan rose 1.3%.

The S&P 500 slipped 19 points, or 0.7%, to 2,958.

The Dow Jones Industrial Average fell 71 points, or 0.3%, to 26,763. The Nasdaq dropped 73 points, or 0.9%, to 8,014.

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