U.S. Markets Turn Higher at Midday; Chevron, Exxon Big Losers

Major markets tried to hold onto modest gains in midday trading Wednesday as stocks struggled to stop their losing streak.
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Major markets tried to hold onto modest gains in midday trading Wednesday as stocks struggled to stop their losing streak. New home sales in August went through the roof. The Commerce Department reported new home sales jumped 18%, much better than economists had expected. Shares of Citizens Financial Group are now trading after its IPO priced below the expected range. This is the biggest offering by a bank in the U.S. since the financial crisis. Royal Bank of Scotland (RBS) owned 100% of its spin-off, before the debut. Bed Bath and Beyond (BBBY) is sharply higher in midday trading. The home goods retailer reported earnings that beat expectations before the bell. Energy stocks are getting punished by falling oil prices. Chevron (CVX) and Exxon Mobil (XOM) are the Dow Components worst performers.