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Markets Right Now: US stocks notch another weekly gain

Markets Right Now: US stocks notch another weekly gain


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NEW YORK (AP) — 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 percent.

The S&P 500 index rose 3 points, or 0.1 percent, to 2,801.

The Dow Jones Industrial Average climbed 94 points, or 0.4 percent, 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 percent and EOG Resources rose 1.7 percent,

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 percent after reporting a drop in earnings.

The S&P 500 index rose 3 points, or 0.1 percent, to 2,801.

The Dow Jones Industrial Average climbed 74 points, or 0.3 percent, to 24,998. The Nasdaq composite added 11 points, or 0.2 percent, 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 percent and Devon Energy rose 1 percent.

It was the first big day of company earnings reports. Wells Fargo, which has been plagued by investigations into its business practices, lost 3 percent 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 percent, to 24,956. The Nasdaq composite added 8 points, or 0.1 percent, to 7,832.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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