Markets Right Now: Stocks end week of gains at record highs

Markets Right Now: Stocks end week of gains at record highs

byAssociated Press12 July 2019 16:07-04:00

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

4 p.m.

Stocks are ending a week of steady gains with more record closes for major U.S. indexes.

Technology, industrial companies and retailers put up some of the biggest gains on Friday, as they have for much of the year. HP and Boeing each rose 1.8% and Home Depot added 2%.

Ford climbed 2.9% after announcing a deal with Volkswagen to share the cost of developing self-driving and electric vehicles.

Health care companies lagged the market. Johnson & Johnson fell 4.1%.

The S&P 500 rose 13 points, or 0.5%, to 3,013, its first close above 3,000 points.

The Dow Jones Industrial Average added 243 points, or 0.9%, to 27,332. The Nasdaq added 48 points, or 0.6%, to 8,244.

Bond prices rose. The yield on the 10-year Treasury fell to 2.11%.

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11:45 a.m.

Major indexes are moving higher in midday trading on Wall Street as gains for technology and industrial stocks outweigh more losses in health care.

The gains Friday came a day after the Dow Jones Industrial Average closed above 27,000 points for the first time.

Chipmakers including Intel rose. Among industrial companies, DuPont, Emerson Electric and Illinois Tool Works rose 2% or more.

Illumina sank 15% after reporting weak results and issuing a dismal revenue forecast.

The S&P 500 index rose 5 points, or 0.2%, to 3,005.

The Dow added 130 points, or 0.5%, to 27,215. The Nasdaq added 29 points, or 0.4%, to 8,225.

Bond prices fell. The yield on the 10-year Treasury rose to 2.13%.

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9:35 a.m.

Stocks are opening higher again on Wall Street led by more gains in technology companies.

Intel rose 1.3% in early trading Friday. Other chipmakers also rose.

Health care stocks continued to fall a day after the White House scrapped a plan to overhaul a system of rebates that drugmakers pay to insurers and distributors.

Illumina sank 15% after reporting weak results and issuing a dismal revenue forecast.

The S&P 500 index rose 4 points, or 0.1%, to 3,004.

The Dow Jones Industrial Average gained 80 points, or 0.3%, to 27,166. The Nasdaq added 14 points, or 0.2%, to 8,212.

Bond prices fell. The yield on the 10-year Treasury rose to 2.13%.

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