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Markets Right Now: Dividend stocks lead modest gains

NEW YORK (AP) -- The latest on developments in financial markets (All times local):

4:00 p.m.

Utilities and other stocks that pay big dividends led U.S. stocks mostly higher as bond yields fell.

Edison International rose 2.4 percent Wednesday and Essex Property Trust, a real estate company, added 1.8 percent.

The gains in high-dividend stocks came as bond yields fell, making those stocks more attractive to investors seeking income.

Banks and other financial companies lagged the market. Citizens Financial dropped 3.4 percent.

The Nasdaq composite notched another all-time high, while the Dow Jones industrial average edged lower.

The Standard & Poor's 500 index rose 1 point, or 0.1 percent, to 2,294.

The Dow fell 35 points, or 0.2 percent, to 20,054. The Nasdaq composite rose 8 points, or 0.2 percent, to 5,682.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.34 percent.

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11:45 a.m.

Stocks are moving slightly lower on Wall Street, a day after the Nasdaq composite notched another record high.

Banks, energy and industrial companies led the way lower Wednesday.

Energy companies were falling along with prices for oil and gas futures. Oil rig operator Transocean slipped 2.1 percent.

Gilead Sciences plunged 9.4 percent after the biotechnology company forecast disappointing sales of its hepatitis C drugs.

The Standard & Poor's 500 index lost 2 points, or 0.1 percent, to 2,290.

The Dow Jones industrial average fell 51 points, or 0.3 percent, to 20,039. The Nasdaq composite declined 2 points, or 0.1 percent, to 5,671.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.34 percent.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street, a day after the Nasdaq composite notched another record high.

Energy, banks and health care companies led the way lower in early trading Wednesday.

Energy companies were falling along with prices for oil and gas futures. Oil rig operator Transocean slipped 3.3 percent.

Gilead Sciences plunged 10 percent after the biotechnology company forecast disappointing sales of its hepatitis C drugs.

The Standard & Poor's 500 index lost 5 points, or 0.2 percent, to 2,288.

The Dow Jones industrial average fell 46 points, or 0.2 percent, to 20,044. The Nasdaq composite declined 13 points, or 0.2 percent, to 5,661.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.36 percent.