Stock Market Treads Water At The Open, But On Track For Weekly Jump

By Mark DeCambre Markets MarketWatch Pulse

U.S. stock-index benchmarks on Friday opened little-change as investors awaited clues from a meeting of Group of 20 finance ministers in Germany. The broader market, however, was aiming for a weekly gain after the Federal Reserve on Wednesday lifted key interest rates a quarter-point but suggested that it would raise interest rates at a more moderate clip in 2017 than previously anticipated. The Dow Jones Industrial Average gained 23 points, or 0.1%, at 20,957, the S&P 500 index gained 1 point, or less than 0.1%, at 2,382, while the Nasdaq Composite Index traded flat at 5,900. Investors are also watching for news from Thursday's meeting in Washington between President Donald Trump and German Chancellor Angela Merkel, postponed from earlier in the week. In corporate news, shares of Amgen Inc. were under pressure, off 6.5%, after the market raised questions about a new cholesterol-lowering drug. Adobe Systems Inc. shares were moving 6.2% higher after the software company reported better-than-expected quarterly results. In commodities, crude-oil prices , which have been a drag on the market all week, were trading steadily higher.

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