UPDATE: After wobbling, stocks post another gain

By  | 

NEW YORK (AP) — 4 p.m.

Photo: NYSE

Stocks shook off an early wobble and ended modestly higher, giving the market its third gain in a row following a harrowing plunge over the previous two weeks.

Banks, retailers and technology companies were responsible for much of the gains Tuesday.

Wells Fargo climbed 2.7 percent, Amazon gained 2 percent and Apple increased 1 percent.

Under Armour jumped 17 percent after reporting a strong quarter.

Distributors of prescription drugs and medical suppliers fell. Cardinal Health lost 3.4 percent.

The Standard & Poor's 500 index rose 6 points, or 0.3 percent, to 2,662.

The Dow Jones industrial average rose 39 points, or 0.2 percent, to 24,640. The Nasdaq composite increased 31 points, or 0.5 percent, to 7,013.

Bond prices rose. The yield on the 10-year Treasury fell to 2.82 percent.

___

11:45 a.m.

Stocks are slightly lower in midday trading on Wall Street, led by declines in health care companies.

Distributors of prescription drugs and medical suppliers took some of the biggest losses Tuesday.

The Wall Street Journal reported that Amazon was seeking to expand its medical supplies business and that Walgreens Boots Alliance wants to buy the rest of AmerisourceBergen.

Cardinal Health lost 4 percent.

Retailers are rising following strong fourth-quarter results from Under Armour. Under Amour jumped 15 percent.

The Standard & Poor's 500 index fell 5 points, or 0.2 percent, to 2,650.

The Dow Jones industrial average fell 93 points, or 0.4 percent, to 24,504. The Nasdaq lost 4 points, or 0.1 percent, to 6,977.

The yield on the 10-year Treasury fell to 2.85 percent.

___

9:35 a.m.

Health care companies are leading stocks broadly lower in early trading on Wall Street as the market gives back some of its big gain from the day before.

Drug distributor companies were especially hard hit in the early going Tuesday after The Wall Street Journal reported that Amazon was seeking to expand its medical supplies business and that Walgreens Boots Alliance wants to buy the rest of AmerisourceBergen.

Patterson Companies slumped 10 percent, and Cardinal Health lost 4 percent.

Athletic gear maker Under Armour rose 17 percent after both companies reported strong results.

The Standard & Poor's 500 index fell 9 points, or 0.4 percent, to 2,645.

The Dow Jones industrial average fell 95 points, or 0.4 percent, to 24,493. The Nasdaq lost 18 points, or 0.2 percent, to 6,964.



 
The comment sections of our web set are designed for thoughtful, intelligent conversation and debate. We want to hear from the viewers but we are not obligated to post comments we feel inappropriate or violate our guidelines. Here are some of the criteria you should follow when posting comments:

Comments cannot be profane or vulgar. Children and families visit this site. We will delete comments that use profanity or cross the lines of good taste.

We will delete all comments using hate speech. Slurs, stereotypes and violent talk aren’t welcome on our web site.

Comments should not attack other readers personally.

We will delete comments we deem offensive, in bad taste, or out of bounds. We are not obligated to post comments that are rude or insensitive.

We do not edit user-submitted comments.

As a host WEAU 13 News welcomes a wide spectrum of opinions. However, we have a responsibility to all our readers to try to keep our comment section fair and decent. For that reason WEAU 13 News reserves the right to not post or to remove any comment.
powered by Disqus