NEW YORK (AP) Developments on Wednesday, May 2, about financial markets (all times Eastern Daylight Time).
- 11:55 a.m.
Stocks were mixed at midday with Apple up, but health care, and food and drink makers were down.
Apple advanced 4 percent after it announced a $100 billion stock buyback and met Wall Street’s estimates in its fiscal second quarter.
In health care, drugmaker Gilead Sciences dropped 6.8 percent. Beer brewer Molson Coors tumbled 12.3 percent after it said U.S. sales slowed.
Smaller companies fared better than larger ones and most of the stocks on the New York Stock Exchange rose.
The S&P 500 index slid 11 points, or 0.4 percent, to 2,643.
The Dow Jones industrial average was down 101 points, or 0.4 percent, at 23,997. The Nasdaq composite rose 6 points, or 0.4 percent, to 7,114.
- 9:35 a.m.
Stocks opened moderately lower as Wall Street reacted to another big round of company earnings.
Gilead Sciences fell 7 percent after its hepatitis C drug sales weakened in the first quarter, dragging down the health sector.
Apple shares jumped 3.2 percent after its stock repurchase and earnings announcement.
Bond yields were little changed as investors expect the Federal Reserve to leave interest rates unchanged when it wraps up its latest meeting this afternoon.
The S&P 500 index slid 5 points or 0.2 percent to 2,649.
The Dow Jones industrial average was down 11 points, or 0.1 percent, at 24,083. The Nasdaq composite lost 11 points, or 0.2 percent, to 7,118.
