Markets Right Now: Stocks extend rally to new highs

AP News
|
Posted: Dec 09, 2016 4:06 PM

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

4:00 p.m.

U.S. stocks extended a rally into a sixth day, bringing new all-time highs for major indexes.

The largest gains went to industries that have been mostly left out of the post-election rally, including health care companies and makers of household goods.

Coca-Cola rose 2.5 percent, the most in the Dow Jones industrial average, after saying its CEO Muhtar Kent would step down next year and be replaced by James Quincey, the company's chief operating officer.

The Standard & Poor's 500 index posted its sixth consecutive gain, its longest winning streak since June 2014.

The Dow rose 142 points, or 0.7 percent, to 19,756.

The S&P 500 climbed 13 points, or 0.6 percent, to 2,259. The Nasdaq composite gained 27 points, or 0.5 percent, to 5,444.

___

12 noon.

Stocks are moving moderately higher on Wall Street, keeping major indexes at record high levels.

Health care stocks and companies that make consumer products rose more than the rest of the market in midday trading Friday. Pfizer rose 2.6 percent.

Coca-Cola rose 2.8 percent, the most in the Dow Jones industrial average, after saying its CEO Muhtar Kent would step down next year and be replaced by James Quincey, the company's chief operating officer.

Broadcom, a chipmaker, jumped 5 percent after reporting better earnings and doubling its dividend.

The Dow rose 48 points, or 0.2 percent, to 19,664. The Standard & Poor's 500 index climbed 5 points, or 0.3 percent, to 2,252. The Nasdaq composite gained 20 points, or 0.4 percent, to 5,437.

___

9:35 a.m.

Stocks are opening moderately higher on Wall Street, keeping major indexes at record high levels

Health care and technology stocks rose more than the rest of the market in early trading Friday. Pfizer and Apple each rose 1 percent.

Coca-Cola rose 1.6 percent, the most in the Dow Jones industrial average, after saying its CEO Muhtar Kent would step down next year and be replaced by James Quincey, the company's chief operating officer.

Broadcom, a chipmaker, jumped 5 percent after reporting better earnings and doubling its dividend.

The Dow rose 18 points, or 0.1 percent, to 19,632. The Standard & Poor's 500 index climbed 4 points, or 0.2 percent, to 2,250. The Nasdaq composite gained 24points, or 0.5 percent, to 5,440.