Estimated read time: 2-3 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
NEW YORK (AP) — The latest on developments in global financial markets (all times local):
4:00 p.m.
Stocks are closing higher as industrial companies get a boost from the weaker dollar.
Caterpillar jumped 1.7 percent Wednesday, one of the biggest gains in the Dow Jones industrial average.
Metals prices rose, sending mining companies higher. Freeport McMoRan climbed 3 percent.
The Dow Jones industrial average gained 66 points, or 0.4 percent, to close at 18,005. The Standard & Poor's 500 index added 7 points, or 0.3 percent, to 2,119. The Nasdaq composite index rose 12 points, or 0.3 percent, to 4,974.
Bond prices rose. The yield on the 10-Year U.S. Treasury note slipped to 1.70 percent.
___
11:45 a.m.
Stocks are mostly higher as industrial companies get a boost from the weaker dollar.
Caterpillar jumped 1.6 percent Wednesday, one of the biggest gains in the Dow Jones industrial average.
Metals prices rose, sending mining companies higher. Freeport McMoRan rose 4 percent.
The Dow Jones industrial average gained 53 points, or 0.3 percent, at 17,992. The Standard & Poor's 500 index added 4 points, or 0.2 percent, at 2,116. The Nasdaq composite index rose 9 points, or 0.2 percent, to 4,971.
Bond prices rose. The yield on the 10-Year U.S. Treasury note slipped to 1.70 percent.
___
9:40 a.m.
Stocks are opening higher Wednesday as energy, machinery and chemicals companies get a boost from the weaker dollar.
U.S. oil is up 1.7 percent at $51.21 a barrel in New York. Anadarko Petroleum rose 2.5 percent and Marathon Oil added 3 percent.
VeriFone Systems, which makes terminals used for electronic payments, is down 28 percent after slashing its outlook and saying it will eliminate jobs.
The Dow Jones industrial average gained 72 points, or 0.4 percent, at 18,010. The Standard & Poor's 500 index added 7 points, or 0.3 percent, at 2,118. The Nasdaq composite index rose 12 points, or 0.3 percent, to 4,974.
Bond prices rose. The yield on the 10-Year U.S. Treasury note slipped to 1.71 percent.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
