Markets Right Now: Stocks claw back losses, end mostly up

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

4 p.m.

Stocks clawed back from an early loss as Apple led a rally in technology companies.

Small-company stocks also did well Tuesday, outweighing losses in big household goods makers and industrial companies.

The market got off to a weak start as investors focused on trade tensions, a drop in construction, and weaker growth in manufacturing.

Steel makers slumped after the White House said it will delay its decision to impose tariffs on U.S. imports of steel and aluminum from the European Union, Canada and Mexico for 30 days.

Pfizer slumped 3 percent after reporting weak sales.

The S&P 500 index rose 6 points, or 0.3 percent, to 2,654.

The Dow Jones industrial average lost 64 points, or 0.3 percent, to 24,099. The Nasdaq composite rose 64, or 0.9 percent, to 7,130.

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11:45 a.m.

U.S. stocks are slumping as industrial and energy companies trade lower.

First-quarter results from drugmaker Pfizer and athletic apparel maker Under Armour disappointed Wall Street Tuesday.

The White House said it will delay its decision to impose tariffs on U.S. imports of steel and aluminum from the European Union, Canada and Mexico for 30 days, but trade tensions remain in focus.

The S&P 500 index fell 16 points, or 0.6 percent, at 2,631.

The Dow Jones industrial average lost 285 points, or 1.2 percent, to 23,874. The Nasdaq composite fell 18, or 0.3 percent, to 7,040.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.97 percent.

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9:35 a.m.

Stocks are opening moderately lower on Wall Street after several companies reported disappointing results.

Pfizer, the giant drugmaker, fell 2.6 percent in early trading Tuesday after its earnings fell short of analysts’ forecasts.

Athletic apparel maker Under Armor fell 5.9 percent on concerns about margins and its North American business.

The S&P 500 index fell 8 points, or 0.3 percent, at 2,638.

The Dow Jones industrial average lost 148 points, or 0.6 percent, to 24,015. The Nasdaq composite fell 24, or 0.3 percent, to 7,039.

Bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 2.96 percent.

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