Markets Right Now: Dow misses 20,000 mark; S&P 500 at record

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

4:00 p.m.

The Dow Jones industrial average came within half a point of 20,000 but closed below that milestone as an afternoon rally lost momentum.

The gains Friday did push two other major indexes, the Standard & Poor’s 500 index and the Nasdaq composite, to all-time highs. The Dow didn’t close at a record.

Traders were encouraged by a December jobs report showing that wages jumped by the largest amount in seven years.

Technology companies posted some of the biggest gains. EBay jumped 3.5 per cent and Facebook added 2.3 per cent.

Phone companies fell. AT&T gave back 2 per cent.

The Dow gained 64 points, or 0.3 per cent, to 19,963.

The S&P 500 rose 8 points, or 0.4 per cent, to 2,276. The Nasdaq climbed 33 points, or 0.6 per cent, to 5,521.

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11:45 a.m.

Technology stocks are leading U.S. market indexes higher in midday trading, keeping the Nasdaq composite and Standard & Poor’s 500 index at record highs.

Facebook rose 2 per cent Friday, while Microsoft, Apple and Google parent Alphabet each gained about 1 per cent.

High-dividend stocks continued to fall as bond yields rose. Verizon lost 1.2 per cent.

The Dow Jones industrial average gained 66 points, or 0.3 per cent, to 19,966.

The S&P 500 rose 8 points, or 0.4 per cent, to 2,277. The Nasdaq climbed 34 points, or 0.7 per cent, to 5,524.

Bond prices fell after the government reported that employers added jobs at a steady pace last month and the unemployment rate ticked up because more people were looking for work.

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

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9:35 a.m.

Stocks are opening mostly lower on Wall Street, led by declines in high-dividend stocks like phone companies and utilities.

Bond prices fell, sending yields higher, after the government reported Friday that employers added jobs at a steady pace last month and the unemployment rate ticked up because more people were looking for work.

Amgen climbed and Sanofi and Regeneron Pharmaceuticals fell after a court moved to block sales of Sanofi and Regeneron’s cholesterol drug.

Gap rose after reporting encouraging holiday-season sales.

The Dow Jones industrial average fell 50 points, or 0.2 per cent, to 19,853.

The Standard & Poor’s 500 index lost 3 points, or 0.2 per cent, to 2,265. The Nasdaq was flat at 5,487.

The yield on the 10-year Treasury note rose to 2.40 per cent.