Markets Right Now: US stocks edge higher; Dow nears 20,000

AP News
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Posted: Dec 27, 2016 4:05 PM

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

4:00 p.m.

Stocks are closing slightly higher in quiet trading on Wall Street, edging the Dow Jones industrial average closer to 20,000.

The gains were broad Tuesday, with materials and technology leading the way. Energy stocks also rose as the price of crude oil moved higher. Bond yields rose.

The Nasdaq composite closed at another all-time high.

Chipmaker Nvidia jumped 7 percent.

The Dow gained 11 points, or 0.1 percent, to 19,945.

The Standard & Poor's 500 index gained 5 points, or 0.2 percent, to 2,268. The Nasdaq composite climbed 24 points, or 0.5 percent, to 5,487.

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

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11:45 a.m.

Stocks are moving slightly higher in quiet trading on Wall Street as traders return from the holiday weekend.

The Dow Jones industrial average edged closer to 20,000 points Tuesday.

Drugmaker Biogen rose 1.6 percent after regulators approved the company's drug to treat a rare genetic disorder called spinal muscular atrophy.

Chipmaker Nvidia jumped 6 percent.

The Dow gained 21 points, or 0.1 percent, to 19,955.

The Standard & Poor's 500 index gained 6 points, or 0.3 percent, to 2,270. The Nasdaq composite climbed 35 points, or 0.7 percent, to 5,498.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.57 percent.

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9:35 a.m.

Stocks are opening slightly higher in quiet trading on Wall Street as traders return from the Christmas holiday weekend.

Drugmaker Biogen rose 2 percent early Tuesday after regulators approved the company's drug to treat a rare genetic disorder called spinal muscular atrophy.

Materials makers were also rising in early trading. Copper mining company Freeport-McMoRan climbed 2 percent.

The Standard & Poor's 500 index gained 5 points, or 0.2 percent, to 2,269. The Nasdaq composite climbed 16 points, or 0.3 percent, to 5,479.

The Dow Jones industrial average rose 32 points, or 0.3 percent, to 19,964.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.57 percent.