Markets Right Now: US stocks edge lower in early trading

Associated Press |

NEW YORK (AP) — The latest on developments in financial markets (All times local):

Stocks are posting moderate declines in early trading as a fast-paced market rally of the past two weeks goes into reverse.

Banks and basic materials companies fell more than the rest of the market Friday. Regions Financial fell 1.9 percent.



Several companies were falling after posting weak results. Campbell Soup lost 5 percent and J.M. Smucker slid 4.3 percent.

The Standard & Poor's 500 index slipped 5 points, or 0.2 percent, to 2,341.

The Dow Jones industrial average dropped 67 points, or 0.3 percent, to 20,551. The Nasdaq composite declined 7 points, or 0.1 percent, to 5,807.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.41 percent.

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