News

Markets Right Now: Stocks end lower, marking a losing week

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

4:00 p.m.

Stocks ended slightly lower on Wall Street, giving the market its first weekly decline in a month.

Basic materials companies fell the most Friday, followed by industrial companies. Only the financial and health care sectors rose.

A government report showing steady hiring last month fell below forecasts, but not enough to take an interest rate hike from the Federal Reserve later this year off the table.

Industrial giant Honeywell International slumped 7.5 per cent after lowering its earnings estimates.

The Dow Jones industrial average fell 28 points, or 0.2 per cent, to 18,240.

The Standard & Poor’s 500 index lost 7 points, or 0.3 per cent, to 2,153. The Nasdaq composite declined 14 points, or 0.3 per cent, to 5,292.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.73 per cent.

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12:00 p.m.

Basic materials suppliers led Wall Street broadly lower at midday Friday after a solid September U.S. jobs report suggested the Federal Reserve remains on track to raise interest rates by December.

Tyson Foods plunged more than 10 per cent after an analyst predicted a big drop in Tyson’s stock because of a lawsuit that accuses Tyson and other companies of manipulating poultry prices.

Honeywell International sank over 8 per cent after lowering its third-quarter earnings forecast.

Gap surged 15 per cent after reporting better than expected monthly sales at its Old Navy chain. Other retail stocks got a lift, including Ralph Lauren and Urban Outfitters.

The Dow Jones industrial average fell 112 points, or 0.6 per cent, to 18,155.

The Standard & Poor’s 500 index fell 15 points, or 0.7 per cent, to 2,145. The Nasdaq composite fell 39 points, or 0.7 per cent, to 5,268.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.76 per cent.

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9:35 a.m.

Utilities and real estate companies are leading gainers amid a flat Wall Street open Friday after a solid but uninspiring September U.S. jobs report.

Gap jumped nearly 9 per cent after September sales results showed growth at its Old Navy chain.

Industrials were the biggest losers, with Honeywell down nearly 8 per cent after lowering its third-quarter earnings forecast.

The Dow Jones industrial average was unchanged at 18,262.

The Standard & Poor’s 500 index was unchanged at 2,160. The Nasdaq composite was also unchanged at 5,306.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.73 per cent.