Markets Right Now: US stocks notch another weekly gain
Posted Jul 13, 2018 05:14:14 PM.
Last Updated Jul 13, 2018 06:00:41 PM.
This article is more than 5 years old.
NEW YORK, N.Y. – The latest on developments in financial markets (all times local):
4 p.m.
Stocks are closing out their second straight week of gains, despite some wobbly trading during the day, as industrial and energy companies climbed.
The gains weren’t all that broad on Friday, however, and slightly more stocks fell than rose on the New York Stock Exchange. Small-company stocks fell.
Banks slumped after quarterly earnings from JPMorgan Chase and Citigroup failed to impress investors. Wells Fargo dropped after fallout from its fake account scandal continued to weigh on its earnings.
Rising oil prices helped energy companies. Devon Energy rose 1.8 per cent.
The S&P 500 index rose 3 points, or 0.1 per cent, to 2,801.
The Dow Jones Industrial Average climbed 94 points, or 0.4 per cent, to 25,019. The Nasdaq composite edged up 2 points to 7,825.
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11:45 a.m.
Stocks are moving higher in midday trading on Wall Street, having shaken off an early wobble, as the market heads for a second straight week of healthy gains.
Industrial and energy companies rose more than the rest of the market Friday. United Technologies rose 1.6 per cent and EOG Resources rose 1.7 per cent,
Financial stocks were broadly lower after investors weren’t impressed with earnings reports from major banks. Wells Fargo, which has been plagued by investigations into fake accounts, lost 2.3 per cent after reporting a drop in earnings.
The S&P 500 index rose 3 points, or 0.1 per cent, to 2,801.
The Dow Jones Industrial Average climbed 74 points, or 0.3 per cent, to 24,998. The Nasdaq composite added 11 points, or 0.2 per cent, to 7,835.
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9:35 a.m.
Stocks are opening slightly higher on Wall Street as the market heads for a second straight week of healthy gains.
Industrial and energy companies rose more than the rest of the market Friday. Boeing climbed 1.1 per cent and Devon Energy rose 1 per cent.
It was the first big day of company earnings reports. Wells Fargo, which has been plagued by investigations into its business practices, lost 3 per cent after reporting a drop in earnings.
The S&P 500 index rose half a point to 2,798.
The Dow Jones Industrial Average edged up 30 points, or 0.1 per cent, to 24,956. The Nasdaq composite added 8 points, or 0.1 per cent, to 7,832.
