FILE- In this April 26, 2018, file photo, Vincent Pepe enjoys some fresh air outside the New York Stock Exchange where he works in the Financial District in New York. The U.S. stock market opens at 9:30 a.m. EDT on Wednesday, May 16. (AP Photo/Kathy Willens, File)
Republished May 16, 2018 - 1:08 PM
Original Publication Date May 16, 2018 - 8:56 AM
NEW YORK - The latest on developments in financial markets (all times local):
4 p.m.
Stocks are closing higher on Wall Street as technology and health care companies post solid gains.
Retailers also did well Wednesday, led by a 10.8 per cent surge in Macy's after the company reported a surprisingly strong quarter. Target added 2.9 per cent.
Small-company stocks fared even better than the rest of the market. Safe-play stocks like utilities and real estate companies lagged.
Abaxis soared 16.2 per cent the veterinary diagnostic products company agreed to be acquired by Zoetis.
The S&P 500 index rose 11 points, or 0.4 per cent, to 2,722.
The Dow Jones industrial average climbed 62 points, or 0.3 per cent, to 24,768. The Nasdaq composite increased 46 points, or 0.6 per cent, to 7,398.
Bond prices fell. The yield on the 10-year Treasury note rose to 3.10 per cent.
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11:45 a.m.
Stocks are higher in midday trading as gains in health care companies and retailers outweigh losses in banks and utilities.
Consumer goods companies also rose Wednesday. Energy stocks were among the laggards as crude oil prices declined.
Macy's jumped 9.1 per cent after reporting results that were far better than analysts were expecting. Other retailers also rose. Target climbed 2.7 per cent.
Abaxis soared 15 per cent the veterinary diagnostic products company agreed to be acquired by Zoetis.
The S&P 500 index rose 4 points, or 0.2 per cent, to 2,716.
The Dow Jones industrial average edged up 7 points, less than 0.1 per cent, to 24,695. The Nasdaq composite increased 25 points, or 0.4 per cent, to 7,377.
Bond prices fell. The yield on the 10-year Treasury note rose to 3.08 per cent.
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9:35 a.m.
Stocks are edging higher in early trading as technology and consumer-focused companies rise.
Macy's jumped 7.6 per cent early Wednesday after reporting results that were far better than analysts were expecting. The company said its Bloomingdale's and Bluemercury divisions as well as its flagship store brand all did well.
Abaxis soared 15 per cent the veterinary diagnostic products company agreed to be acquired by Zoetis.
The S&P 500 index rose 2 points, or 0.1 per cent, to 2,714.
The Dow Jones industrial average rose 11 points, less than 0.1 per cent, to 24,720. The Nasdaq composite increased 10 points, or 0.1 per cent, to 7,363.
Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 3.07 per cent.
News from © The Associated Press, 2018