Markets Right Now: Stocks erase an early loss on Wall Street

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

11:45 a.m.

Stocks erased an early loss and were little changed in midday trading as health care stocks and homebuilders tempered a sharp slide from technology companies.

A potential settlement in the opioid epidemic involving some of the nation’s largest drug distributors lifted the broader health care sector Wednesday.

Homebuilders benefited from a surprisingly good survey on sales. Technology stocks were the biggest losers.

General Motors rose 2.4% after the automaker and the United Auto Workers reached a tentative deal to end a monthlong strike.

The S&P 500 slipped 2 points to 2,993.

The Dow Jones Industrial Average edged up 10 points to 27,035. The Nasdaq fell 19 points, or 0.2%, to 8,129.

Bond prices rose. The yield on the 10-year Treasury fell to 1.75%.


9:40 a.m.

Stocks are opening lower on Wall Street Wednesday as investors assess a fresh batch of earnings and a weak report on retail sales.

The Commerce Department said retail sales dropped in September by the largest amount in seven months.

Abbott Laboratories fell 1.2% after its sales fell shy of estimates.

Bank of America rose 2.6% after beating analysts’ third-quarter profit forecasts.

Drug distributors Cardinal Health, McKesson and AmerisourceBergen all rose after the Wall Street Journal reported they’d reached a settlement of lawsuits tied to the nation’s opioid crisis.

The S&P 500 fell 6 points, or 0.2%, to 2,988.

The Dow Jones industrials slipped 9 points to 27,015. The Nasdaq fell 32 points, or 0.4%, to 8,116.

Bond prices rose. The yield on the 10-year Treasury fell to 1.76%.

The Associated Press