Markets Right Now: Late push renews records for US indexes

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

4:00 p.m.

After a sluggish day, a late push higher delivers tiny gains and renews records for major U.S. market indexes.

The Standard & Poor’s 500 index marked its fourth straight weekly gain Friday.

The tone in the market was tepid all day. More stocks fell than rose on the New York Stock Exchange, and a measure of small-company stocks ended essentially unchanged.

After being down for most of the day, Verizon and AT&T turned higher in mid-afternoon trading. Verizon ended with a gain of 1.5 per cent.

The S&P 500 edged up 3 points, or 0.2 per cent, to 2,351.

The Dow Jones industrial average inched up 4 points to 20,624. The Nasdaq composite rose 23 points, or 0.4 per cent, to 5,838.

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11:45 a.m.

Stock indexes are posting moderate declines in midday trading, though they remain close to record highs.

Energy stocks fell more than the rest of the market Friday as the price of crude oil moved lower.

Bank stocks also fell as bond yields eased. Lower yields mean lower rates on loans and smaller profits for banks. Regions Financial fell 1.7 per cent.

Several companies were falling after posting weak results. Campbell Soup lost 5 per cent and J.M. Smucker slid 4.3 per cent.

The Standard & Poor’s 500 index slipped 5 points, or 0.2 per cent, to 2,342.

The Dow Jones industrial average dropped 60 points, or 0.3 per cent, to 20,560. The Nasdaq composite was little changed at 5,815.

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

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9:35 a.m.

Stocks are posting moderate declines in early trading as a fast-paced market rally of the past two weeks goes into reverse.

Banks and basic materials companies fell more than the rest of the market Friday. Regions Financial fell 1.9 per cent.

Several companies were falling after posting weak results. Campbell Soup lost 5 per cent and J.M. Smucker slid 4.3 per cent.

The Standard & Poor’s 500 index slipped 5 points, or 0.2 per cent, to 2,341.

The Dow Jones industrial average dropped 67 points, or 0.3 per cent, to 20,551. The Nasdaq composite declined 7 points, or 0.1 per cent, to 5,807.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.41 per cent.