Markets Today: 3M leads declines in industrial stocks

4 p.m.

3M, making Post-it notes and many other products, plunged 12.9percent in heavy trading after announcing poor benefits and a restructuring program. This was the largest loss for the business since the market crash of 1987.

Other indicators finished blended, although the Dow Jones Industrial Average was pulled by the loss for 3M into the red.

Facebook and Microsoft both climbed after reporting strong earnings, pushing the Nasdaq higher.

The S&P 500 index slipped 1 point to 2,926.

The Dow dropped 134 points, or 0.5%, to 26,462.

The two stocks fell for every one that rose over the New York Stock Exchange.


11:45 a.m.

Stock indexes held close to their record highs from tech companies offset slumps in companies that reported results as results.

Facebook and Microsoft both reported strong earnings, powering gains in the communications and technology sectors.

Commercial stocks were generally lower, weighing the Dow Jones Industrial Average.

3M sank 10.6% after reporting disappointing outcomes, and UPS fell 6.8 percent. Tesla fell 2.9% after reporting a huge reduction.

The S&P 500 climbed 4 points, or 0.1%, to 2,931.

The Dow dropped 115 points, or 0.4%, to 26,481. The Nasdaq climbed 32 points, or 0.4 percent, to 8,137.

Bond prices dropped. The return on the 10 year Treasury rose to 2.53%.


9:35 a.m.

Stocks are starting mainly lower on Wall Street since care companies post losses.

After reporting first quarter results that were disappointing, 10 percent sank in early trading. This assisted pull on the Dow Jones Industrial Average down over other indicators.

After releasing powerful results after the bell on 17, Microsoft and facebook both rose sharply. Facebook increased 7.2% and Microsoft rose 3.6 percent.

Tesla dropped 1.8% after reporting a enormous reduction.

Even the S&P 500 index fell 6 points, or 0.2%, to 2,919.

The Nasdaq rose 19 points, or 0.2%, to 8,119.

Much didn’t move. The yield on the 10 year Treasury kept stable in 2.52%.