Markets Right Now: Gains edge S&P 500 closer to record high



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

4 p.m.

Stocks rose following some solid company earnings reports and signs of progress in resolving the U.S.-China trade dispute.

The gains Friday put the S&P 500 close to the all-time closing high it reached in July. The benchmark index also posted its third straight weekly gain.

Technology, financial and communications services stocks powered the rally.

Intel soared 8.1% after turning in standout results for its latest quarter.

The buying accelerated after the U.S. Trade Representative's office issued a statement saying the discussions with China's negotiating team "made headway."

The S&P 500 rose 12 points, or 0.4%, to 3,022.

The Dow Jones Industrial Average rose 152 points, or 0.6%, to 26,958. The Nasdaq added 57 points, or 0.7%, to 8,243.

Bond prices fell. The yield on the 10-year Treasury rose to 1.80%.

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11:45 a.m.

More gains for technology companies are sending the S&P 500 above the record high close it reached in July.

Intel led the sector higher Friday with a gain of 7.6% after reporting a standout quarter. Other chipmakers also rose.

Communications companies also gained, and General Motors rose 1.6% as a 40-day strike appeared to be closer to ending.

Amazon fell 1% after giving a weak forecast for the holiday shopping season.

The S&P 500 rose 16 points, or 0.5%, to 3,026.

The Dow Jones Industrial Average rose 198 points, or 0.7%, to 27,005. The Nasdaq added 60 points, or 0.7%, to 8,246.

Bond prices fell. The yield on the 10-year Treasury rose to 1.80%.

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9:35 a.m.

Stocks are off to a mixed start on Wall Street as gains in technology companies are offset by losses in health care companies and other sectors.

Intel jumped 6% in early trading Friday after the chipmaker reported results that beat analysts' forecasts.

Amazon fell 3.5% after the giant online retailer said its third-quarter earnings fell 26% from a year ago.

The S&P 500 fell 2 points, or 0.1%, to 3,008.

The Dow Jones Industrial Average rose 38 points, or 0.1%, to 26,844. The Nasdaq fell 17 points, or 0.2%, to 8,168.

The yield on the 10-year Treasury held steady at 1.76%.

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The Associated Press

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