Markets Right Now: Stocks notch small gains; oil falls
NEW YORK (AP) — The latest on developments in financial markets (all times local):
4:00 p.m.
Stocks are closing a lackluster session Tuesday with small gains as investors await a Federal Reserve decision on interest rates.
The Fed concludes a policy meeting Wednesday and is expected to announce its second rate cut this year.
Oil prices gave up a chunk of the huge gains from a day earlier after Saudi Arabia said about half the production lost to a weekend attack was back online. U.S. oil fell 5.7% to $59.34 a barrel.
Oil producers and oil services companies lagged the market. Hess fell 3.6%.
The Dow Jones industrials rose 33 points, or 0.1%, to 27,110.
The S&P 500 gained 7 points, or 0.3%, to 3,005. The Nasdaq rose 32 points, or 0.4%, to 8,186.
Bonds rose. The yield on the 10-year Treasury fell to 1.81%.
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11:45 a.m.
Stocks are treading water at midday Tuesday as energy companies drop while less-riskier sectors of the market rise.
Oil prices are down more than 5% after surging over 14% Monday following a weekend attack on oil facilities in Saudi Arabia. Marathon Oil fell 6.3%.
Household product makers and health care companies were among the gainers. Procter & Gamble rose 1.1% and Merck gained 1.3%.
The Dow Jones Industrial Average fell 24 points, or 0.1%, to 27,052.
The S&P 500 is up 2 points at 3,000. The Nasdaq rose 7 points, or 0.1%, to 8,160.
Bonds rose. The yield on the 10-year Treasury fell to 1.80% from 1.84% Monday.
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9:45 a.m.
Stocks are treading water early Tuesday as energy companies give back some of Monday's gains.
Oil prices are down more than 4% after surging over 14% Monday following a weekend attack on oil facilities in Saudi Arabia. Marathon Oil fell 6.3%.
Bank stocks are dropping for a second straight day. Bank of America slipped 1%.
Household product makers were among the early gainers. Colgate-Palmolive rose 1.5%.
The Dow Jones Industrial Average fell 72 points, or 0.3%, to 27,004.
The S&P 500 is down 2 points at 2,995. The Nasdaq rose 4 points to 8,157.
The yield on the 10-year Treasury held steady at 1.84% after dropping Monday.
