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Markets Right Now: S&P 500, Nasdaq close at record highs

August 24, 2018

FILE- This Aug. 27, 2010, file photo shows the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, Aug. 24, 2018. (AP Photo/Mark Lennihan)

NEW YORK (AP) — The latest on developments in financial markets (all times local):

4 p.m.

The S&P 500 index is closing at a record high, just two days after the current bull market in stocks became the longest in history.

The Nasdaq composite and the Russell 2000 indexes also closed at all-time highs Friday.

The Dow Jones Industrial Average is still below the high it set in January.

Technology companies, the best-performing sector in the market this year, led the gains. Video game maker Take-Two Interactive jumped 2.5 percent.

The S&P 500 rose 17 points, or 0.6 percent, to 2,874, beating the record it set in January by two points.

The Dow gained 133 points, or 0.5 percent, to 25,790. The Nasdaq added 67 points, or 0.9 percent, to 7,945.

The price of oil broke a seven-week losing streak, finishing this week 5 percent higher.

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11:45 a.m.

Stocks are broadly higher in midday trading on Wall Street, led by solid gains in technology, materials and energy companies.

Software maker Autodesk surged 14.3 percent Friday after issuing a better-than-expected quarterly report and strong forecasts.

U.S. crude oil rose again and is up 5.9 percent this week. Concho Resources gained 2.8 percent.

Investors are weighing new remarks from Federal Reserve Chairman Jerome Powell, who says he expects the Fed to gradually raise interest rates if the U.S. economic expansion remains strong.

The S&P 500 index rose 17 points, or 0.6 percent, to 2,874.

The Dow Jones Industrial Average gained 157 points, or 0.6 percent, to 25,814. The Nasdaq composite added 63 points, or 0.8 percent, to 7,942.

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9:35 a.m.

Stocks are rising in morning trading as technology companies climb and oil prices continue to rally, leading energy companies higher.

Software make Autodesk surged 13 percent Friday after issuing a better-than-expected quarterly report and strong forecasts. Other technology companies also rose. Adobe Systems picked up 1.3 percent.

U.S. crude oil rose again and is up 6 percent this week. ConocoPhillips gained 1.8 percent.

The S&P 500 index rose 8 points, or 0.3 percent, to 2,865.

The Dow Jones Industrial Average gained 70 points, or 0.3 percent, to 25,727. The Nasdaq composite advanced 40 points, or 0.5 percent, to 7,919.

Bond prices slumped. The yield on the 10-year Treasury note rose to 2.84 percent.

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