The latest on developments in financial markets (All times local):
4:00 p.m.
U.S. stocks managed to end with tiny gains after a bumpy day of trading.
Energy companies rose Thursday along with the price of crude oil, and banks also headed higher.
Devon Energy climbed 3.3 per cent, while KeyCorp increased 1.9 per cent.
High-dividend stocks like phone companies and utilities ended lower as bond yields traded higher for much of the day. AT&T lost 1 per cent.
The Standard & Poor’s 500 index rose 4 points, or 0.2 per cent, to 2,357.
The Dow Jones industrial average increased 14 points, or 0.1 per cent, to 20,662. The Nasdaq composite rose 14 points, or 0.3 per cent, to 5,878.
Small-company stocks did far better than the rest of the market. The Russell 2000 index gained 12 points, or 0.9 per cent, to 1,364.
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11:45 a.m.
U.S. stocks are climbing in midday trading after a sharp drop late in the previous day.
Energy companies are rising with the price of oil Thursday and retailers are up after a series of strong sales reports. Chesapeake Energy gained 2.7 per cent and Kohl’s jumped 6.2 per cent.
Banks are also climbing as bond yields rise. KeyCorp rose 1.4 per cent.
Beverage maker Constellation Brands, which makes Corona and Modelo beers, jumped 7 per cent after reporting a strong quarter.
The Standard & Poor’s 500 index rose 6 points, or 0.3 per cent, to 2,359.
The Dow Jones industrial average increased 56 points, or 0.3 per cent, to 20,704. The Nasdaq composite rose 12 points, or 0.2 per cent, to 5,876.
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9:35 a.m.
Stocks are off to a mixed start on Wall Street as gains in energy companies and retailers are offset by losses in phone companies and banks.
Bed Bath & Beyond jumped 5 per cent early Thursday after reporting results that beat analysts’ forecasts, but Capital One Financial gave up 1 per cent.
Beverage maker Constellation Brands, which makes Corona and Modelo beers, jumped 7 per cent after reporting a strong quarter.
The Standard & Poor’s 500 index edged up 1 point to 2,354.
The Dow Jones industrial average edged up 14 points, or 0.1 per cent, to 20,662. The Nasdaq composite rose 12 points, or 0.2 per cent, to 5,876.
Bond prices rose slightly. The yield on the 10-year Treasury note slipped to 2.33 per cent.
The Associated Press
