Markets Right Now: Stocks close higher, led by technology

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

4 p.m.

Stocks are capping a solid opening week of the year with big gains for technology, materials and energy companies.

Tech stocks, which were the biggest stars of the market last year, continued in that role in the opening week of 2018. Cisco Systems rose 1.4 per cent Friday and Apple gained 1.1 per cent.

For the week, tech stocks in the Standard & Poor’s 500 index are up 4.2 per cent.

The four-day winning streak for the S&P 500 index this week marked the longest string of consecutives gains to start a year since 2010.

On Friday the S&P 500 index rose 19 points, or 0.7 per cent, to 2,743.

The Dow Jones industrial average rose 220 points, or 0.9 per cent, to 25,295. The Nasdaq composite climbed 58 points, or 0.8 per cent, to 7,136.

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11:45 a.m.

Technology companies are climbing as U.S. stocks rise for the fourth day in a row to start 2018.

Cisco Systems rose 1.1 per cent in midday trading Friday, and Google’s parent company Alphabet rose 1.4 per cent.

Stocks are continuing to push through record highs.

The Dow Jones industrials closed above 25,000 points for the first time Thursday and the Nasdaq breached 7,000 points earlier in the week.

The Dow increased 83 points, or 0.3 per cent, to 25,158.

The Standard & Poor’s 500 index rose 9 points, or 0.4 per cent, to 2,733.

The Nasdaq composite climbed 49 points, or 0.6 per cent, to 7,122.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.47 per cent.

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9:35 a.m.

Stocks are opening slightly higher on Wall Street, carrying on momentum a day after the Dow Jones industrial average broke through 25,000 points.

Technology and industrial companies were leading the way higher early Friday. Railroad operator Union Pacific gained 2.1 per cent and Cisco Systems rose 1.4 per cent.

The Dow increased 49 points, or 0.2 per cent, to 25,122.

The Standard & Poor’s 500 index rose 5 points, or 0.2 per cent, to 2,728.

The Nasdaq composite climbed 22 points, or 0.3 per cent, to 7,100.