Markets Right Now: Airlines, banks lead US stocks higher

Tommy Kalikas Photo: AP
Tommy Kalikas

July 18, 2018 03:21 PM

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

4 p.m.

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Stocks are ending modestly higher as big gains for transportation and financial companies were partly offset by losses elsewhere.

Airline stocks rose sharply Wednesday, led by a 8.8 percent surge in United Continental after the company reported a huge increase in earnings.

Railroad stocks also climbed. CSX jumped 7.1 percent after releasing strong results.

Berkshire Hathaway rose 5.3 percent after easing restrictions on buying back its own shares.

Household goods makers and technology companies gave up some of their recent gains.

The S&P 500 index rose 6 points, or 0.2 percent, to 2,815.

The Dow Jones Industrial Average rose 79 points, or 0.3 percent, to 25,199. The Nasdaq composite fell less than a point to 7,854.

Bond prices fell. The yield on the 10-year Treasury rose to 2.88 percent.

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11:45 a.m.

Stocks are wavering on Wall Street at midday as gains by industrial and financial companies are offset by losses elsewhere.

United Continental soared 9.3 percent Wednesday after reporting strong quarterly results, but technology companies fell.

Texas Instruments dropped 1.1 percent after firing its CEO after less than two months on the job for personal misconduct.

Railroad operator CSX rose 6.5 percent after beating analysts' earnings forecasts in its latest quarter.

The S&P 500 index rose 6 points, or 0.2 percent, to 2,815.

The Dow Jones Industrial Average rose 84 points, or 0.3 percent, to 25,203. The Nasdaq composite fell 1 point to 7,853.

Bond prices didn't move much. The yield on the 10-year Treasury held steady at 2.86 percent.

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9:35 a.m.

Stocks are off to a mixed start as gains by industrial and financial companies are offset by losses in energy and technology companies.

United Continental jumped 5 percent after reporting strong quarterly results, but energy companies fell along with the price of crude oil. Chevron gave up 1.2 percent.

Railroad operator CSX rose 4.9 percent after beating analysts' earnings forecasts in its latest quarter.

The S&P 500 index rose 1 point to 2,810.

The Dow Jones Industrial Average was little changed at 25,115. The Nasdaq composite fell 3 points, less than 0.1 percent, to 7,850.

Bond prices didn't move much. The yield on the 10-year Treasury held steady at 2.86 percent.

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(Copyright 2018 by The Associated Press. All Rights Reserved.)

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