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03/29/17 04:30:04 PM
MARKET SNAPSHOT

S&P Market Commentary

... The latest on developments in financial markets (All times local): 4:00 p.m. Energy companies led U.S. stock indexes mostly higher as crude oil prices rose. Banks and other financial stocks fell Wednesday as bond yields headed lower, which will mean lower interest rates on loans and lower profits for banks. U.S. Bancorp lost 1.3 percent. Depomed dropped 3 percent after the drugmaker replaced its CEO late Tuesday and shook up its board. The Standard & Poor's 500 index rose 2 points, or 0.1 percent, to 2,361. The Dow Jones industrial average fell 42 points, or 0.2 percent, to 20,659. The Nasdaq composite increased 22 points, or 0.4 percent, to 5,897. Two stocks rose for every one that fell on the New York Stock Exchange. Bond prices rose. The yield on the 10-year Treasury note fell to 2.38 percent. 11:45 a.m. Major U.S. stock indexes are mixed in midday trading as losses by banks outweigh gains in other parts of the market. U.S. Bancorp lost 1 percent Wednesday. Drugmaker Depomed dropped 3.9 percent after the company replaced its CEO late Tuesday and shook up its board. The Standard & Poor's 500 index fell a fraction to 2,357. The Dow Jones industrial average fell 71 points, or 0.3 percent, to 20,630. The Nasdaq composite increased 5 points, or 0.1 percent, to 5,880. More stocks rose than fell on the New York Stock Exchange. Bond prices rose. The yield on the 10-year Treasury note fell to 2.39 percent. 9:35 a.m. Stocks are opening mostly lower on Wall Street led by declines in utilities and real estate companies. Banks were also lower as bond yields fell. Bank of America fell 0.5 percent. Drugmaker Depomed fell 3 percent after the company replaced its CEO late Tuesday. The Standard & Poor's 500 index fell 2 points, or 0.17 percent, to 2,358. The Dow Jones industrial average fell 42 points, or 0.2 percent, to 20,656. The Nasdaq composite increased 3 points, or 0.1 percent, to 5,878. More stocks fell than rose on the New York Stock Exchange.



 

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