Markets Right Now: US stocks waver in midday trading

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

11:55 a.m.

Stocks are wavering between small gains and losses in midday trading Friday as the market continues to churn amid the volatile trading that has gripped the market throughout December.

Gains in banks, retailers and health care companies are outweighing losses in energy stocks and elsewhere in the market. Wells Fargo gained 1.1 percent. Amazon added 1.4 percent.

Homebuilders slumped following a report indicating that fewer Americans signed contracts to buy homes last month. Beazer Homes USA dropped 1.1 percent.

The Dow Jones Industrial Average rose 54 points to 23,193, while the S&P 500 gained 4 points to 2,493. The Nasdaq added 12 points to 6,591.

Even with recent gains, the Dow and S&P 500 are down around 9 percent for the month.

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9:35 a.m.

Stocks are opening higher Friday as U.S. markets try to maintain the momentum from a late-day rally on Thursday.

The Dow Jones Industrial Average rose 61 points to 23,199, while the S&P 500 gained 5 points to 2,493. The Nasdaq slipped 2 points to 6,576.

On Thursday, the Dow erased a 600 point loss and finished with a gain of 260 points. The swing was indicative of the volatility that has gripped the stock market throughout December.

Even with recent gains, the Dow and S&P 500 are down around 9 percent for the month.

Tesla rose about 2 percent after naming two independent directors to its board under an agreement with federal regulators.

U.S. benchmark oil rose 1.1 percent to $45.08 a barrel, giving a modest boost to energy stocks.

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