Markets Right Now: US stock indexes close at record highs

AP News
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Posted: Dec 08, 2016 4:10 PM

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

4:00 p.m.

Major US stock indexes are closing at record highs for the second day in a row.

Banks and materials companies logged the biggest gains Thursday. Goldman Sachs, which has surged 33 percent since the election last month, had the biggest gain in the Dow Jones industrial average.

Higher bond yields helped send financial firms higher since higher interest rates will make lending money more profitable.

Small-company stocks continued to outpace the rest of the market by a wide margin. The Russell 2000 of small and mid-size companies jumped 1.6 percent, far more than other indexes.

The Dow rose 65 points, or 0.3 percent, to 19,614. The Standard & Poor's 500 index climbed 4 points, or 0.2 percent, to 2,246. The Nasdaq composite rose 23 points, or 0.4 percent, to 5,417.

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11:45 a.m.

U.S. stocks are edging higher in midday trading, keeping major market indexes at record highs.

Banks, technology and materials companies are leading the way higher. Defense contractors and other industrial companies are taking losses.

Bond prices fell, sending yields higher.

High-end yoga apparel maker Lululemon soared 16 percent after beating analysts' estimates for profit and revenue.

The Dow Jones industrial average edged up 25 points, or 0.1 percent, to 19,572.

The Standard & Poor's 500 index was little changed at 2,241. The Nasdaq composite rose 14 points, or 0.3 percent, to 5,408.

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9:35 a.m.

Stocks are off to a mixed start on Wall Street, keeping major indexes at record high levels.

Banks and energy companies gained in early trading Thursday, but other sectors fell. Utilities, real estate and health care stocks all fell.

Several stocks were moving on earnings news. High-end yoga apparel maker Lululemon soared 18 percent after beating analysts' estimates for profit and revenue.

The Dow Jones industrial average edged up 5 points, less than 0.1 percent, to 19,556.

The Standard & Poor's 500 index was little changed at 2,241. The Nasdaq composite rose 4 points, or 0.1 percent, to 5,398.