Markets Right Now: US stocks struggle higher at midday

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

11:45 a.m.

Stocks erased early losses and were slightly higher in midday trading on Wall Street after the technology sector turned higher.

The modest gains Thursday, if they hold, would end a five-day losing streak.


Power provider PG&E lost another one-fourth of its value as concerns mounted over whether it could sustain losses related to California’s devastating Camp Fire.

The British pound fell and British bank stocks plunged after two Cabinet ministers quit, throwing the country’s plans for leaving the European Union into turmoil. The disarray is raising questions over London’s future as a financial center.

The S&P 500 rose 2 points, or 0.1 percent, to 2,703.

The Dow Jones Industrial Average edged down 48 points, or 0.2 percent, to 25,038. The Nasdaq rose 39 points, or 0.6 percent, to 7,176.


9:35 a.m.

Stocks are opening mostly lower on Wall Street, extending the market’s losing streak into a sixth day.

Health care companies and banks fell the most early Thursday. Johnson & Johnson and Citigroup each fell about 1 percent.

Technology shares rose. Cisco Systems climbed 4.5 percent.

The British pound fell sharply after two ministers quit from Prime Minister Theresa May’s Cabinet in opposition her plan for Britain’s departure from the European Union next year.

The S&P 500 index fell 11 points, or 0.4 percent, to 2,690.

The Dow Jones Industrial Average lost 102 points, or 0.4 percent, to 24,978. The Nasdaq composite was little changed at 7,136.

Bond prices rose. The yield on the 10-year Treasury note fell to 3.09 percent.

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