NEW YORK (AP) — The latest on developments in financial markets (All times local):
11:45 a.m.
Stocks are fading from their record highs, putting the Standard & Poor’s 500 index on track to break its longest winning streak in four years.
Energy stocks posted some of the biggest declines in midday trading Friday as the price of oil fell. Chevron fell 1.2 percent.
Consumer-focused stocks were also falling. Wholesale club operator Costco sank 6 percent after reporting a disappointing quarter.
The S&P 500 index fell 7 points, or 0.3 percent, to 2,544.
The Dow Jones industrial average lost 37 points, or 0.2 percent, to 22,738, and the Nasdaq composite fell 9 points, or 0.1 percent, to 6,576.
Bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.36 percent.
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9:35 a.m.
Stocks are opening slightly lower on Wall Street as technology and phone companies take losses.
The declines early Friday threatened to put an end to the longest winning streak in four years for the Standard & Poor’s 500 index.
Wholesale club operator Costco sank 5.2 percent after reporting a disappointing quarter.
Bond prices fell, pushing yields higher. The yield on the 10-year Treasury note rose to 2.40 percent.
The higher yields send banks higher. Citizens Financial rose 1.4 percent.
The S&P 500 index fell 4 points, or 0.2 percent, to 2,547.
The Dow Jones industrial average lost 21 points, or 0.1 percent, to 22,753, and the Nasdaq composite fell 9 points, or 0.1 percent, to 6,576.
