AP NEWS

Markets Right Now: Stocks up broadly; Lyft soars 8.7 percent

March 29, 2019
FILE- In this March 7, 2019, file photo specialist Anthony Rinaldi, left, and trader Michael Urkonis work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, March 29. (AP Photo/Richard Drew, File)

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

4:00 p.m.

Stocks are closing higher on Wall Street Friday, ending the first quarter with the biggest quarterly gain in a decade.

Lyft made its much-anticipated trading debut on the Nasdaq stock exchange, jumping 8.7 percent to $78.29. The ride-hailing company’s stock had been priced at $72 a share.

The S&P 500 index turned in its strongest performance since the third quarter of 2009. It was a big turnaround for the index, which had slumped 14 percent in the fourth quarter.

The S&P 500 rose 18 points, or 0.7 percent, to 2,834. The Dow Jones Industrial Average rose 211 points, or 0.8 percent, to 25,928. The Nasdaq edged up 60 points, or 0.8 percent, to 7,729.

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11:45 a.m.

Stocks are holding on to broad gains at midday Friday, led by industrial companies and chipmakers.

Lyft made its much-anticipated trading debut on the Nasdaq stock exchange, jumping 21 percent to $87.24. Shares of the ride-hailing company were priced at $72.

The S&P 500 index is on track for its best quarterly performance since the third quarter of 2009. The S&P technology sector has led the gains with a jump of more than 18 percent.

Boeing rose 1.9 percent, boosting the industrials sector. Micron Technology rose 4.6 percent as makers of semiconductors saw solid gains.

The S&P 500 rose 13 points, or 0.5 percent, to 2,828. The Dow Jones Industrial Average rose 149 points, or 0.6 percent, to 25,866. The Nasdaq edged up 49 points, or 0.6 percent, to 7,718.

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9:35 a.m.

Stocks are opening higher on the last day of trading for the first quarter.

Friday’s big event is the trading debut of Lyft, the first U.S. ride-hailing company to sell shares to the public. Lyft’s initial public offering priced at $72.

The S&P 500 index is on track for its best quarterly performance since the third quarter of 2009. The S&P technology sector has led the gains with a jump of more than 18 percent.

The S&P 500 rose 14 points, or 0.5 percent, to 2,829. The Dow Jones Industrial Average rose 119 points, or 0.5 percent, to 25,836. The Nasdaq edged up 49 points, or 0.6 percent, to 7,718.

Bond prices fell. The yield on the benchmark 10-year Treasury note rose to 2.42 percent.