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Markets Right Now: Stocks end slightly lower on Wall Street

NEW YORK, N.Y. – The Latest on global financial markets (all times local):

4:00 p.m.

Stocks are ending modestly lower on Wall Street after clawing back much of a steep loss from the middle of the day.

Health care stocks led the way lower Friday as several companies turned in disappointing results. Health insurer Molina Healthcare plunged 19 per cent after cutting its forecasts.

The technology sector was also weak, continuing a recent trend. Apple fell another 1 per cent, extending a two-week rout.

Amazon soared 10 per cent after reporting a big jump in revenue.

The Dow Jones industrial average fell 57 points, or 0.3 per cent, to 17,773.

The Standard & Poor’s 500 index lost 10 points, or 0.5 per cent, to 2,065. The Nasdaq composite dropped 29 points, or 0.6 per cent, to 4,775.

The yield on the 10-year Treasury note held steady at 1.83 per cent.

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11:45 a.m.

U.S. stocks are slipping in midday trading, while markets in Europe take hefty losses.

Technology companies continued to tumble Friday after a late plunge a day earlier. Health care companies are falling after some weak first-quarter reports.

Phillips 66 sank 7 per cent after its earnings came in well below what analysts were looking for. Health insurer Molina Healthcare plunged 18 per cent after cutting its forecasts.

Amazon soared 10 per cent after reporting a big jump in revenue.

The Dow Jones industrial average fell 157 points, or 0.9 per cent, to 17,673.

The Standard & Poor’s 500 index lost 20 points, or 1 per cent, to 2,055. The Nasdaq composite dropped 57 points, or 1.2 per cent, to 4,749.

Bond prices barely budged. The yield on the 10-year Treasury note held steady at 1.83 per cent.

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9:35 a.m.

Stocks are opening moderately lower on Wall Street as several companies turn in disappointing quarterly results.

Phillips 66 sank 2 per cent early Friday after its earnings came in well below what analysts were looking for. Health insurer Molina Healthcare plunged 16 per cent after cutting its forecasts.

Amazon bucked the downward trend and soared 10 per cent after reporting a big jump in revenue and a bigger profit than investors had expected.

The Dow Jones industrial average fell51 points, or 0.3 per cent, to 17,777.

The Standard & Poor’s 500 index lost three points, or 0.2 per cent, to 2,071. The Nasdaq composite slipped a point 4,804.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.86 per cent.

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11:20 a.m.

European stocks are lower after official figures showed eurozone economic growth was far higher than expected in the first quarter, but that inflation had fallen back below zero.

Germany’s DAX was down 0.8 per cent at 10,235.38 while France’s CAC 40 was 1.3 per cent lower at 4,499.48. Britain’s FTSE 100 was down 0.5 per cent at 6,292.25.

Official reports showed the 19-country eurozone grew 0.6 per cent in the first quarter, above forecasts for 0.4 per cent. The increase means the eurozone is now bigger than before the 2008 financial crisis.

While that suggests the European Central Bank’s stimulus measures are having an effect, a separate report showed the annual inflation rate fell to minus 0.2 per cent in April from zero in March. The ECB is trying to get the rate to just under 2 per cent.

The euro was up 0.3 per cent at $1.1390, while Asian stocks closed mostly lower and oil prices rose.