FILE- This June 25, 2018, file photo shows the New York Stock Exchange in New York. The U.S. stock market opens at 9:30 a.m. EDT on Friday, Sept. 14. (AP Photo/Seth Wenig, File, File)
Republished September 14, 2018 - 1:09 PM
Original Publication Date September 14, 2018 - 9:01 AM
NEW YORK - The latest on developments in financial markets (all times local):
4 p.m.
Stocks ended an up-and-down day with slight gains on Wall Street, capping a solid week.
Smaller companies rose more than the rest of the market on Friday following signs of sustained economic growth and reports that more tariffs on Chinese goods could be on the way.
The market got off to a solid start after the Federal Reserve said production of cars and energy jumped in August.
Bond yields rose, which benefited financial stocks. BlackRock climbed 1.5 per cent.
The yield on the 10-year Treasury note increased to 2.99 per cent.
The S&P 500 index rose less than 1 point to 2,904, its 5th gain in a row.
The Dow Jones Industrial Average edged up 8 points to 26,154. The Nasdaq composite slipped 3 points to 8,010.
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11:45 a.m.
Stocks are slightly higher as financial companies climb but retailers and big-dividend stocks slide.
Investors were encouraged to see a pickup in industrial production in August. That helped send bond yields higher Friday.
Higher bond yields can mean higher profits for banks and other lenders because they can charge more to lend money. LendingTree rose 2.7 per cent.
The yield on the 10-year Treasury note rose to 3 per cent.
Retailers were weak after the Commerce Department reported that Americans slowed down their spending in August. Gap lost 1.7 per cent.
The S&P 500 index rose 2 points, or 0.1 per cent, to 2,906.
The Dow Jones Industrial Average added 54 points, or 0.2 per cent, to 26,199. The Nasdaq composite gained 13 points, or 0.2 per cent, to 8,028.
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9:40 a.m.
Stocks are opening with modest gains after the Federal Reserve said U.S. industrial production jumped in August.
The central bank said production of cars, oil and natural gas rose while output at mines and utilities also grew.
Bond yields rose Friday, sending bank stocks higher. JPMorgan Chase gained 0.7 per cent and State Street rose 1.1 per cent.
The yield on the 10-year Treasury note rose to 3 per cent.
The S&P 500 index rose 2 points, or 0.1 per cent, to 2,906.
The Dow Jones Industrial Average added 37 points, or 0.2 per cent, to 26,183. The Nasdaq composite gained 9 points, or 0.1 per cent, to 8,022.
News from © The Associated Press, 2018