Markets Right Now: US stocks edge lower in early trading – Town Hall

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

4:00 p.m.

Stocks closed lower on Wall Street, undoing a rally from the day before.

Consumer goods companies and utilities fell the most Tuesday. Kraft Heinz dropped 4 percent and Consolidated Edison fell 2 percent.

The losses were broad. Nine of the 10 sectors of the Standard and Poor’s 500 index fell. Energy stocks rose along with the price of crude oil.

LendingClub plunged another 9 percent after the Department of Justice opened an investigation into the company, which forced out its founder last week.

The Dow Jones industrial average lost 180 points, or 1 percent, to 17,529. The Standard & Poor’s 500 index gave up 19 points, or 0.9 percent, to 2,047. The Nasdaq composite index pulled back 59 points, or 1.3 percent, to 4,715.

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11:45 a.m.

Stocks are moving slightly lower on Wall Street as the market pulls back following a sizable gain the day before.

Utilities and consumer goods companies fell the most Tuesday. Kraft Heinz lost 3 percent and Consolidated Edison fell 2 percent.

LendingClub plunged another 11 percent after the Department of Justice opened an investigation into the company, which forced out its founder last week after an internal review found irregularities with the way loans were sold.

The Dow slipped 41 points, or 0.2 percent, to 17,670. The Standard & Poor’s 500 index fell four points, or 0.2 percent, to 2,062. The Nasdaq composite index slipped six points, or 0.1 percent, to 4,769.

The Dow had jumped 175 points the day before.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street as the market pulls back following a sizable gain the day before.

Utilities, consumer goods companies and banks fell the most early Tuesday. Wal-Mart Stores and JPMorgan Chase each fell 1 percent, among the biggest declines in the Dow Jones industrial average.

The Dow slipped 23 points, or 0.1 percent, to 17,687. The Standard & Poor’s 500 index fell a point to 2,064. The Nasdaq composite index also fell a point to 4,774.

The Dow had jumped 175 points the day before.

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

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10:20 a.m.

European stock markets are tracking their counterparts around the world higher as oil prices continue their advance and ahead of key U.S. inflation data.

The recent recovery in the price of oil towards $50 a barrel is being viewed by stock investors as a sign of an improving global economy. Jitters over the outlook had been one of the reasons why they fell to multiyear lows below $30 a barrel earlier this year.

In Europe, the FTSE 100 index of leading British shares is up 1 percent at 6,214 while Germany’s DAX has risen 0.9 percent to 10,044. The CAC-40 in France is 1 percent higher at 4,357.

Whether the rally perseveres may hinge on U.S. consumer price inflation data later. The headline rate is expected to rise to 1.1 percent in April from 0.9 percent the previous month. The Federal Reserve is looking closely at inflation numbers to determine whether it will raise interest rates again in June.