NEW YORK — The latest on developments in financial markets (all times local):
11:50 a.m.
Stocks are mostly higher on Wall Street at midday Friday, although some weak corporate earnings are weighing on investor sentiment.
Exxon fell 3% after its quarterly profit and revenue missed Wall Street expectations. That, along with a sharp decline in oil prices, helped sink energy stocks.
Intel fell 9.8% after it gave a cautious outlook for the full year. Other chipmaker stocks slumped as well.
Those results were offset by a report showing the economy grew at a solid 3.2% in the first three months of the year, compared with 2.2% in the fourth quarter.
The S&P 500 index rose 4 points, or 0.2%, to 2,930.
The Dow Jones Industrial Average gained 29 points, or 0.1%, to 26,491. The Nasdaq slipped 2 points to 8,116.
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9:35 a.m.
Stocks are opening lower Friday after weak earnings reports offset a report showing solid growth in the U.S. economy.
The economy grew at a solid 3.2%, the Commerce Department said, compared with 2.2% in the fourth quarter.
Some earnings news disappointed investors. Intel gave a cautious outlook for the full year. Its stock fell 9.3% and dragged down other chipmaker stocks.
Exxon Mobil fell 2.2% after both profit and revenue came up short of Wall Street expectations.
The S&P 500 index fell 4 points, or 0.2%, to 2,921.
The Dow Jones Industrial Average lost 44 points, or 0.2%, to 26,417. The Nasdaq fell 40 points, or 0.5%, to 8,077.
Bond prices rose after the economic report. The yield on the 10 year Treasury fell to 2.49%.
http://www.startribune.com/markets-right-now-stocks-fall-as-weak-earnings-offset-gdp/509108922/
2019-04-26 15:56:15Z
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