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Markets Right Now: Stocks end holiday-shortened week higher

Peter Castelli Photo: AP
Peter Castelli

April 18, 2019 03:21 PM

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

4 p.m.

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Major U.S. indexes managed small gains on Wall Street but not enough to prevent a losing week for the S&P 500 following three weeks of gains.

Industrial companies rose Thursday as traders welcomed solid earnings from Snap-on, Honeywell and Union Pacific. Financial and energy stocks fell.

Pinterest and Zoom Video Communications soared on their first day of trading.

Cigarette makers fell after the Senate majority leader said he plans to introduce legislation to raise the minimum age to buy tobacco from 18 to 21.

The S&P 500 edged up 4 points, or 0.2%, to 2,905.

The Dow Jones Industrial Average added 110 points, or 0.4%, to 26,559. The Nasdaq inched up 1 point to 7,998.

Bond prices rose. The yield on the 10 year Treasury fell to 2.56%.

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11:45 a.m.

Stocks wavered between modest gains and losses in midday trading as another slide in health care sector companies offset gains elsewhere in the market.

Energy stocks also took losses Thursday. Pfizer fell 2.4% and Valero Energy gave up 1.3%.

Smaller company stocks fell more than the rest of the market for the second straight day.

The S&P 500 index edged up 2 points, or 0.1%, to 2,902.

The Dow Jones Industrial Average added 96 points, or 0.4%, to 26,550. The Nasdaq fell 11 points, or 0.1%, to 7,984.

Bond prices rose. The yield on the 10 year Treasury note fell to 2.56%.

U.S. markets will be closed for Good Friday.

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9:35 a.m.

Stock indexes are opening mostly higher on Wall Street, recouping some of their modest losses from a day earlier.

Gains in industrial, health care, and technology companies are outweighing losses in banks and elsewhere in the market early Thursday.

United Rentals surged 7.2% and Humana rose 2.2%. Chipmaker Advanced micro devices gained 0.4%.

The Commerce Department said U.S. retail sales surged in March at the fastest pace since late 2017, driven by increased spending on autos, gasoline, furniture and clothing.

The S&P 500 index rose 3 points, or 0.1%, to 2,904.

The Dow Jones Industrial Average added 86 points, or 0.3%, to 26,536. The Nasdaq fell 2 points, or less than 0.1%, to 7,993.

Bond prices rose. The yield on the 10 year Treasury note fell to 2.56%.

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(Copyright 2019 by The Associated Press. All Rights Reserved.)

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