Markets Right Now: Stocks up broadly; Lyft soars 8.7 per cent - InfoNews

Current Conditions

17.0°C

Markets Right Now: Stocks up broadly; Lyft soars 8.7 per cent

FILE- In this March 7, 2019, file photo specialist Anthony Rinaldi, left, and trader Michael Urkonis work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, March 29. (AP Photo/Richard Drew, File)
March 29, 2019 - 1:17 PM

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

4:00 p.m.

Stocks are closing higher on Wall Street Friday, ending the first quarter with the biggest quarterly gain in a decade.

Lyft made its much-anticipated trading debut on the Nasdaq stock exchange, jumping 8.7 per cent to $78.29. The ride-hailing company's stock had been priced at $72 a share.

The S&P 500 index turned in its strongest performance since the third quarter of 2009. It was a big turnaround for the index, which had slumped 14 per cent in the fourth quarter.

The S&P 500 rose 18 points, or 0.7 per cent, to 2,834. The Dow Jones Industrial Average rose 211 points, or 0.8 per cent, to 25,928. The Nasdaq edged up 60 points, or 0.8 per cent, to 7,729.

___

11:45 a.m.

Stocks are holding on to broad gains at midday Friday, led by industrial companies and chipmakers.

Lyft made its much-anticipated trading debut on the Nasdaq stock exchange, jumping 21 per cent to $87.24. Shares of the ride-hailing company were priced at $72.

The S&P 500 index is on track for its best quarterly performance since the third quarter of 2009. The S&P technology sector has led the gains with a jump of more than 18 per cent.

Boeing rose 1.9 per cent, boosting the industrials sector. Micron Technology rose 4.6 per cent as makers of semiconductors saw solid gains.

The S&P 500 rose 13 points, or 0.5 per cent, to 2,828. The Dow Jones Industrial Average rose 149 points, or 0.6 per cent, to 25,866. The Nasdaq edged up 49 points, or 0.6 per cent, to 7,718.

___

9:35 a.m.

Stocks are opening higher on the last day of trading for the first quarter.

Friday's big event is the trading debut of Lyft, the first U.S. ride-hailing company to sell shares to the public. Lyft's initial public offering priced at $72.

The S&P 500 index is on track for its best quarterly performance since the third quarter of 2009. The S&P technology sector has led the gains with a jump of more than 18 per cent.

The S&P 500 rose 14 points, or 0.5 per cent, to 2,829. The Dow Jones Industrial Average rose 119 points, or 0.5 per cent, to 25,836. The Nasdaq edged up 49 points, or 0.6 per cent, to 7,718.

Bond prices fell. The yield on the benchmark 10-year Treasury note rose to 2.42 per cent.

News from © The Associated Press, 2019
The Associated Press

  • Popular vernon News
  • Comments
View Site in: Desktop | Mobile