US Stock Indexes Mixed

US Stock Indexes Mixed

NEW YORK (AP) -- U.S. stock indexes were mixed in a listless morning of trading Wednesday, while bond yields and the dollar moved higher again.

KEEPING SCORE: The Standard & Poor's 500 index was up by less than 1 point at 2,268 as of 10 a.m. Eastern time. The Dow Jones industrial average was down 28 points, or 0.1 percent, to 19,798. The Nasdaq composite rose 12 points, or 0.2 percent, to 5,551.

HO HO HUM: Target fell $3.31, or 4.7 percent, to $67.63 after the discounter cut its forecast for fourth-quarter sales and profits. It joins a lengthening list of retailers that have lowered their expectations following weak sales during the holiday shopping season.

Retailers and other companies that sell non-essential goods to consumers had some the largest losses of the day. Those in the S&P 500 fell 0.4 percent, most among the 11 sectors that make up the index.

FINANCIAL STRENGTH: Citigroup and Goldman Sachs became the latest banks to report stronger earnings for the fourth quarter than analysts expected. Like others, they benefited from strength in their trading operations following the tear higher for stocks since Donald Trump's victory in the U.S. presidential election in November.

Financial stocks have been leading the way since Election Day on expectations for higher interest rates, stronger economic growth and less regulation.

YIELDS GAIN GROUND: Treasury yields rose, and the yield on the 10-year Treasury climbed to 2.36 percent from 2.33 percent late Tuesday. It regained just over half of its drop from the day prior, and it continues the steady march higher that bond yields have been on since Election Day.

DOLLAR REBOUND: The dollar rose against many of its rivals, a day after it sank sharply against the British pound and others. The dollar rose to 113.352 Japanese yen from 112.66 late Tuesday. The British pound fell to $1.2318 from $1.2396, and the euro fell to $1.0693 from $1.0709.

MARKETS ABROAD: In Asia, Japan's Nikkei 225 index rose 0.4 percent, and Hong Kong's Hang Seng jumped 1.1 percent. South Korea's Kospi index dipped by 0.1 percent.

In Europe, Germany's DAX rose 0.3 percent, and the U.K. FTSE 100 rose 0.2 percent, while France's CAC 40 fell 0.4 percent.

COMMODITIES: Benchmark U.S. crude oil fell 95 cents, or 1.8 percent, to $51.53 per barrel. Brent crude, the international standard, fell $1.04, or 1.9 percent, to $54.43. Natural gas fell 2.5 cents to $1.6239 per 1,000 cubic feet.

Gold edged up $1.30, or 0.1 percent, to $1,214.40 per ounce. Silver rose 8 cents to $17.23 per ounce, and copper was close to flat at $2.62 per pound.

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