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Markets Right Now: US stocks close nearly flat

Associated Press Associated Press 7/09/2016

NEW YORK — The latest on developments in global financial markets (all times local):

4:05 p.m.

Stock indexes are closing nearly flat on Wall Street after drifting between small gains and losses most of the day.

Investors weighted a mix of new economic data and their implications for a potential Federal Reserve rate hike.

Supermarket chains and other consumer-focused companies were among the biggest decliners, while energy stocks led gainers.

Apple stock moved higher after the company introduced new iPhone models that analysts say could help Apple recover modestly from a recent dip in sales. Chipotle Mexican Grill jumped on news activist investor Bill Ackman had bought a 9.9 percent stake.

The Dow Jones industrial average fell 12 points, or 0.1 percent, to 18,526. The Standard & Poor's 500 index fell less than a point to 2,186. The Nasdaq composite rose 8 points, or 0.2 percent, to 5,284.

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12:00 p.m.

U.S. stock indexes are slipping lower in midday trading, weighed down by a slide in supermarket operators and other consumer-focused companies.

Materials stocks were also among the big decliners. A sharp drop in hiring last month overshadowed a report Wednesday showing a pickup in job openings in July.

The Dow Jones industrial average fell 45 points, or 0.2 percent, to 18,493. The Standard & Poor's 500 index fell 4 points to 2,182. The Nasdaq composite fell 3 points, or 0.1 percent, to 5,273.

Grocery store Kroger is down 5 percent and Whole Foods is down 6 percent on worries about lower food prices and greater discounts.

Chipotle Mexican Grill jumped on word activist investor Bill Ackman's investment firm has taken a stake. Oil and gas company Apache Corp. is rising after it said it discovered a major oil field in Texas.

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9:45 a.m.

U.S. stock indexes are little changed in early trading following mixed signals from Europe and Asia overnight. Grocery store Kroger is down 5 percent and Whole Foods is down 6 percent on worries about lower food prices and greater discounts.

Chipotle Mexican Grill jumped on word activist investor Bill Ackman's investment firm has taken a stake. Oil and gas company Apache Corp. is rising after it said it discovered a major oil field in Texas.

The Dow Jones industrial average fell 13 points, or 0.1 percent, to 18,524. The Standard & Poor's 500 index up less than a point to 2,186. The Nasdaq composite rose 4 points, or 0.1 percent, to 5,280.

Bond prices rose. The yield on the 10-year Treasury note slipped to 1.52 percent.

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