U.S. stock indexes wavered between small gains and losses in early trading Thursday. Utilities were down the most, while banks led the gainers. Investors had their eye on Washington, where former FBI Director James Comey was testifying as part of a congressional investigation into Russia’s possible election meddling.
KEEPING SCORE: The Standard & Poor’s 500 index slipped 1 point, or 0.1 percent, to 2,431 as of 10:11 a.m. Eastern Time. The Dow Jones industrial average gained 17 points, or 0.1 percent, to 21,191. The Nasdaq composite index fell 5 points, or 0.1 percent, to 6,291. The Russell 2000 index of small-company stocks added 3 points, or 0.2 percent, to 1,399.
COMEY SPEAKS: Comey was testifying before Congress as part of the investigation into Russian meddling in the U.S. presidential election. The testimony, Comey’s first public statements since his May 9 dismissal, was likely to bring hours of uncomfortable attention to an administration shadowed for months by an investigation into ties between the Trump campaign and Russia.
GOING PRIVATE: Nordstrom surged 13.7 percent on news that the Nordstrom family are considering taking the troubled department store chain private. Like Macy’s and other big department store chains, Nordstrom has struggled to cope with competition from online retailers. The company, which has 354 stores in the U.S. and Canada, has seen its stock tumble by half since early 2015. The stock was the biggest gainer in the S&P 500 on Thursday, gaining $5.54 to $46.02 Thursday. Macy’s picked up $4.14, or 8.2 percent, to $54.69.
SALES SLUMP: Urban Outfitters slid 8.6 percent after the retailer said sales at older stores are running lower than expected this month. That followed weak sales in May. The stock shed $1.57 to $16.66.