Stocks falter as Wall Street heads to mixed weekly end | national news

By DAMIAN J. TROISE Business Writer AP

Stocks faltered in morning Wall Street trading on Friday and major indices were on track for a mixed end to a choppy week.

The S&P 500 edged up less than 0.1% at 11:12 a.m. Eastern time. The Dow Jones Industrial Average lost 192 points, or 0.5%, to 35,678 and the Nasdaq rose 0.6%.

Small company stocks fell more than the broader market. The Russell 2000 fell 0.5%.

Tech stocks made strong gains. TurboTax maker Intuit jumped 9% after raising its earnings forecast for its fiscal year. Software maker Adobe grew 3.5%.

Several large communications also rose and helped offset losses elsewhere in the market. Facebook’s parent company, Meta, gained 1.8% and Netflix, 1.1%.

Moderna jumped 4.2% and Pfizer added 1.1% after the Food and Drug Administration has opened booster shots against coronaviruses of both societies to all adults.

Bond yields have fallen sharply. The 10-year Treasury yield fell to 1.52% from 1.59% Thursday night.

Falling bond yields have weighed on banks, which rely on higher yields to charge more lucrative interest on loans. Bank of America fell 2.6%.


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