Markets Right Now: Modest gains for stocks set more records | iNFOnews | Thompson-Okanagan's News Source

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Markets Right Now: Modest gains for stocks set more records

October 11, 2017 - 1:11 PM

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

4 p.m.

Stocks managed to post modest gains on Wall Street, enough to set more record closing highs.

Technology and health care stocks rose more than the rest of the market Wednesday, while banks and phone companies fell.

Johnson & Johnson rose 2.1 per cent after the company asked regulators to approve a prostate cancer drug.

Luxury goods maker Coach dropped 2.8 per cent after saying it will change its name to Tapestry.

The Standard & Poor's 500 index rose 4 points, or 0.2 per cent, to 2,555. The Dow Jones industrial average rose 42 points, or 0.2 per cent, 22,872. The Nasdaq rose 16 points, or 0.2 per cent, to 6,603. All three closed at record highs.

Small-company stocks lagged the rest of the market. The Russell 2000 index fell 1 point to 1,506.

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11:45 a.m.

Stock indexes are barely budging in midday trading on Wall Street as gains for technology companies are offset by losses elsewhere.

Household goods makers were also higher Wednesday, while banks and energy companies fell.

Kroger is up 4.5 per cent after saying it will consider selling its convenience store business. Luxury handbag maker Coach is down 2.3 per cent after saying it will change its name to Tapestry.

The Standard & Poor's 500 index was little changed at 2,550.

The Dow Jones industrial average edged up 6 points, less than 0.1 per cent, 22,836. The Dow closed at a record high the day before.

The Nasdaq composite was up 4 points, less than 0.1 per cent, to 6,591.

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9:35 a.m.

Stocks are off to a mixed start on Wall Street as investors get ready for a wave of third-quarter company earnings reports.

Airlines were off to another strong start Wednesday. Delta Air Lines rose 1 per cent after reporting a solid quarter. JetBlue Airways jumped 2.2 per cent.

Supermarket operator Kroger soared 4.6 per cent after saying it was considering for its convenience store business.

The Standard & Poor's 500 index was little changed at 2,550.

The Dow Jones industrial average edged up 5 points, less than 0.1 per cent, 22,837. The Dow closed at a record high the day before.

The Nasdaq composite slipped 4 points, less than 0.1 per cent, to 6,582.

News from © The Associated Press, 2017
The Associated Press

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