Markets Right Now: Stocks gain as bull run nears a milestone

Markets Right Now: Stocks gain as bull run nears a milestone Photo: AP

August 21, 2018 03:21 PM

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

4 p.m.

Advertisement

The S&P 500 index briefly traded at an all-time high as the stock market's bull run comes closer to becoming the longest on record.

The benchmark index closed slightly higher on Tuesday, but a little below the high mark it set in January.

The current bull market, which began in 2009, is on track to become the longest in history on Wednesday, surpassing the bull run of the 1990s.

The Russell 2000 of small-company stocks closed at an all-time high.

Tuesday's gains were driven by strong earnings. Medtronic, a medical device maker, rose 5.7 percent.

The S&P 500 rose 5 points, or 0.2 percent, to 2,862.

The Dow Jones Industrial Average gained 63 points, or 0.2 percent, to 25,822. The Nasdaq composite rose 38 points, or 0.5 percent, to 7,859.

___

12:52 p.m.

The S&P 500 index is on track for another all-time high.

The benchmark index of large U.S. companies is trading just above the latest closing high of 2,872 it set seven months ago, on Jan. 26.

The market took a steep plunge immediately after that, in early February, and has been clawing higher since then thanks to a still-recovering economy and a boom in corporate profits.

The market has been buffeted by concerns about mounting trade tensions this spring and summer, particularly with China. Signs of potential progress have helped stocks rally in recent weeks.

S&P Dow Jones Indices, which compiles the S&P 500, says that on Wednesday, the current bull market will tie the 1990s one for the longest in history.

___

11:45 a.m.

Stocks are higher on Wall Street following some strong results from homebuilders, retailers and other companies.

Technology stocks also rose Tuesday, rebounding from a slide a day earlier.

Toll Brothers jumped 11.6 percent after reporting a strong quarter, and TJ Maxx parent company TJX Companies rose 4.2 percent.

Discount brokers TD Ameritrade and ETrade fell following a report that JPMorgan Chase will offer free online trading.

Consumer goods stocks were among the laggards.

The S&P 500 index rose 11 points, or 0.4 percent, to 2,868.

The Dow Jones Industrial Average gained 80 points, or 0.3 percent, to 25,839. The Nasdaq composite rose 56 points, or 0.7 percent, to 7,877.

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

___

9:35 a.m.

Stocks are opening higher on Wall Street as homebuilders and other companies posted solid results.

Homebuilder Toll Brothers jumped 12.3 percent in early trading Tuesday after reporting earnings that came in well ahead of what analysts were expecting.

TJ Maxx parent company TJX Companies rose 3.6 percent after reporting a strong quarter.

Discount brokers ETrade and Charles Schwab were down sharply following a report that JPMorgan Chase will offer free online trading.

The S&P 500 index rose 8 points, or 0.3 percent, to 2,864.

The Dow Jones Industrial Average gained 53 points, or 0.2 percent, to 25,816. The Nasdaq composite rose 30 points, or 0.4 percent, to 7,851.

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

Credits

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

Advertisement

Stearns County Set to Release Wetterling Investigative File to Public

Rain to Continue in the Metro, Drier Weekend Ahead

KSTP Traffic Round-Up: Handful of Crashes, SB I-35W Ramp to Hwy 280 Remains Closed

Police: Motive Unknown in Wisconsin Office Shooting

State Investigating Roseville Bingo Hall That Raises Millions for Youth Hockey

Man Pulled from Burning Car on Snelling Avenue

Advertisement