U.S. stocks mostly higher in midday trading; oil recovers

Xavier Trudeau
Juin 26, 2017

US stocks are mostly higher in midday trading, but the market was held back by a downturn in technology companies.

USA stock indexes wavered between small gains and losses in morning trading Monday, giving up some of their gains from earlier in the day.

KEEPING SCORE: The Standard & Poor's 500 index added 1 point to 2,439 as of 11:22 a.m.

REITS RALLY: Several real estate investment trusts were trading higher as investors sought out stocks that pay high dividend yields. Energy stocks led the way, and those in the S&P 500 climbed 0.8 percent for the largest gain of the 11 sectors that make up the index. Technology companies fell the most. The Nasdaq composite slid 25 points, or 0.4 percent, to 6,240.

The Dow Jones industrial average climbed 50 points, or 0.2 percent, to 21,444.

Utilities led USA stocks mostly higher in midday trading Monday as falling bond yields made high-dividend companies more attractive to income-seeking investors. Kimco Realty added 55 cents, or 3.1 percent, to $18.54.

Exelon climbed 2.2 percent and Verizon rose 1 percent.

MUSICAL CHAIRS: Pandora Media rose 2.4 percent following reports that the streaming music service's founder and CEO Tim Westergren is stepping down. The stock picked up 19 cents to $8.47.

To read this article in one of Houston's most-spoken languages, click on the button below. Nvidia gave up $1.71, or 1.1 percent, to $152.12. Tokyo's Nikkei 225 advanced 0.1 percent to 20,153.35 and Seoul's Kospi gained 0.4 percent to 2,388.66. Skyworks Solutions fell $2.24, or 2.2 percent, to $102.12.

ENERGY: Benchmark U.S. crude rose another 53 cents to $43.54 per barrel in electronic trading on the New York Mercantile Exchange.

ENERGY: Benchmark U.S. crude was up 15 cents to $43.16 a barrel in NY. Oil prices last week hit their lowest point since August before rebounding but still are about 15 percent below where they were a year ago on expectations supplies exceed demand. Brent crude, used to price global oils, advanced 34 cents to $46.88 in London.

CURRENCY: The dollar rose to 111.67 yen from Friday's 111.27. The euro weakened to $1.1196 from $1.1199. Asian markets rose Monday after Wall Street rebounded from losses to end the week higher on stronger oil and natural gas prices. The 10-year Treasury yield fell to 2.13 percent from 2.14 percent late Friday.

MARKETS OVERSEAS: In Europe, major indexes moved higher after a strong German economic survey reinforced hopes that the region's recovery is gaining momentum. Germany's DAX was 0.2 per cent higher, while France's CAC-40 was up 0.5 per cent. The FTSE 100 in London gained 0.3 per cent. In Asia, several market indexes notched gains. Benchmarks in New Zealand, Taiwan and Bangkok also gained.

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