Markets Right Now: Stocks mostly lower as tech shares drop

The latest on developments in financial markets (all times local):

4:00 p.m.

Stocks are closing mostly lower Friday as a decline in technology stocks offsets a strong performance by Wall Street banks.

Apple dropped 1.9% and Broadcom fell 3.4% after the chipmaker warned that demand remains weak.

JPMorgan rose 2% and Citigroup gained 1.6%. Banks were bolstered by the action in the bond market, where the yield on the 10-year Treasury jumped to 1.90% from 1.79% a day earlier.

The S&P 500 fell 2 points, or 0.1%, to 3,007, but finished with a weekly gain of 1%. The Nasdaq, which has a heavy weighting of tech stocks, slipped 17 points, or 0.2%, to 8,176.

The Dow Jones industrials posted its eighth straight gain, rising 37 points, or 0.1%, to 27,219.

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11:55 a.m.

Stocks are having a mixed performance so far on Wall Street Friday as gains in banks and health care companies are offset somewhat by a drop in technology stocks.

The Dow Jones industrials rose 59 points, or 0.2%, to 27,241. The index has risen for seven consecutive days.

Tech stocks are lower after leading the market’s gains the past two days. Apple fell 2%.

The S&P 500 is up 3 points, or 0.1%, to 3,012, and is about 13 points below its all-time high. But the Nasdaq, which has a heavy weighting of tech stocks, slipped 5 points, or 0.1%, to 8,188.

Bonds continued their recent sell-off. The yield on the 10-year Treasury, which moves inversely to the price, rose to 1.87%. That helped bank stocks, with JPMorgan rising 1.7%.

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9:45 a.m.

Stocks are having a mixed performance early on Wall Street Friday as gains in banks and energy companies are offset somewhat by a drop in technology stocks.

The Dow Jones industrials rose 45 points, or 0.1%, to 27,227. The index has risen for seven consecutive days.

Tech stocks led the market’s gains the past two days, but opened lower Friday. Apple fell 1.4%.

The S&P 500 is up 3 points, or 0.1%, to 3,012, and is about 13 points shy of its all-time high. But the Nasdaq, which has a heavy weighting of tech stocks, slipped 7 points, or 0.1%, to 8,186.

Bonds continued their recent sell-off. The yield on the 10-year Treasury, which moves inversely to the price, rose to 1.83%. That helped bank stocks, with JPMorgan rising 1.3%.