Friday, July 14, 2017
NEW YORK (AP) - The latest on developments in financial markets (All times local):
9:35 a.m.
U.S. stocks are off to a mixed start as big-dividend stocks like utilities and real estate companies rise and banks plunge.
Investors bought bonds and high-yield stocks Friday after the Commerce Department said retail sales fell in June.
Real estate company GGP gained 1.8 percent.
Bond prices jumped. The yield on the 10-year Treasury note fell to 2.29 percent. That hurts interest rates and the profits banks make on lending.
JPMorgan Chase and Citigroup both beat Wall Street expectations in the second quarter, but JPMorgan fell 2.4 percent and Citigroup lost 1.6 percent.
The Standard & Poor’s 500 index added 2 points, or 0.1 percent, to 2,450.
The Dow Jones industrial average lost 6 points to 21,546. The Nasdaq composite rose 14 points, or 0.2 percent, to 6,288.