Markets Right Now: Stocks close higher, led by technology
The latest on developments in financial markets (All times local):
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 percent Friday and Apple gained 1.1 percent.
For the week, tech stocks in the Standard & Poor’s 500 index are up 4.2 percent.
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 percent, to 2,743.
The Dow Jones industrial average rose 220 points, or 0.9 percent, to 25,295. The Nasdaq composite climbed 58 points, or 0.8 percent, to 7,136.
Technology companies are climbing as U.S. stocks rise for the fourth day in a row to start 2018.
Cisco Systems rose 1.1 percent in midday trading Friday, and Google’s parent company Alphabet rose 1.4 percent.
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 percent, to 25,158.
The Standard & Poor’s 500 index rose 9 points, or 0.4 percent, to 2,733.
The Nasdaq composite climbed 49 points, or 0.6 percent, to 7,122.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.47 percent.
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 percent and Cisco Systems rose 1.4 percent.
The Dow increased 49 points, or 0.2 percent, to 25,122.
The Standard & Poor’s 500 index rose 5 points, or 0.2 percent, to 2,728.
The Nasdaq composite climbed 22 points, or 0.3 percent, to 7,100.