Markets Right Now: S&P 500, Nasdaq set new closing highs

AP News
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Posted: Jan 24, 2017 4:11 PM

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

4:00 p.m.

An afternoon buying drive on Wall Street sent the Standard & Poor's 500 index and the Nasdaq composite to all-time highs.

The Dow Jones industrial average also rose Tuesday but not as much, leaving it short of a record and below the 20,000 mark it has hovered near for weeks.

Materials companies rose more than the rest of the market. DuPont jumped 4.5 percent after reporting earnings that easily beat analysts' estimates.

Banks also posted solid gains. Regions Financial rose 2.4 percent.

The S&P 500 rose 14 points, or 0.7 percent, to 2,280.

The Dow Jones industrial average gained 112 points, or 0.6 percent, to 19,912. The Nasdaq rose 48 points, or 0.9 percent, to 5,600.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.46 percent.