Markets Right Now: Earnings drive more stock gains

AP News
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Posted: Jul 27, 2017 9:41 AM

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

9:35 a.m.

Big gains for technology, retail and phone companies pushed stock prices higher in early trading on Wall Street.

Facebook, which was already trading at an all-time high, rose another 4.2 percent early Thursday after reporting surprisingly strong quarterly results.

Verizon also climbed 5.4 percent after its own results came in ahead of estimates, and so did Alexion Pharmaceuticals.

Thursday was a busy day for company earnings. Johnson Controls sank 8.8 percent after reporting revenue that fell short of analysts' forecasts.

The Standard & Poor's 500 rose 3 points, or 0.1 percent, to 2,480.

The Dow Jones industrial average gained 67 points, or 0.3 percent, to 21,776. The Nasdaq increased 25 points, or 0.3 percent, to 6,447.

All three are trading above the record high closes they recorded a day earlier.