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Markets Right Now: US stocks edge lower in late trading

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

4:00 p.m.

Stocks extended a losing streak to five days after a decline in late afternoon trading erased an early gain.

Utilities and health care stocks fell more than the rest of the market Wednesday. Edwards Lifesciences declined 3 per cent.

Whole Foods dropped 5 per cent after the Food and Drug Administration said there were “serious violations” at a kitchen in Massachusetts that may have resulted in contaminated food.

The Dow Jones industrial average fell 34 points, or 0.2 per cent, to 17,640. The Standard & Poor’s 500 index lost 3 points, or 0.2 per cent, to 2,071. The Nasdaq composite gave up 8 points, or 0.2 per cent, to 4,834.

Bond prices rose slightly after the Federal Reserve stood pat on interest rates. The yield on the 10-year Treasury note edged down to 1.59 per cent.

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11:45 a.m.

U.S. stocks are edging higher in midday trading as the market comes off a four-day losing streak.

Consumer stocks rose more than the rest of the market Wednesday. Home Depot added 1.6 per cent, the biggest gain in the Dow Jones industrial average.

Traders will be watching for what the Federal Reserve says after it concludes a policy meeting later in the day.

The Dow rose 43 points, or 0.2 per cent, to 17,718. The Standard & Poor’s 500 index gained 5 points, or 0.3 per cent, to 2,080. The Nasdaq composite climbed 14 points, or 0.3 per cent, to 4,858.

Bond prices didn’t move much. The yield on the 10-year Treasury note edged down to 1.60 per cent.

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9:35 a.m.

U.S. stocks are edging higher in the early going as the market comes off a four-day losing streak.

Consumer stocks rose more than the rest of the market early Wednesday. Nike added 1.3 per cent, the most in the Dow Jones industrial average.

Energy stocks lagged the market as the price of oil took another dip lower. Drilling rig operator Transocean fell 2 per cent.

The Dow Jones industrial average rose 32 points, or 0.2 per cent, to 17,707. The Standard & Poor’s 500 index gained 3 points, or 0.2 per cent, to 2,078. The Nasdaq composite climbed 8 points, or 0.2 per cent, to 4,851.

U.S. government bond prices fell. The yield on the 10-year Treasury note edged up to 1.62 per cent.