Markets Right Now: Energy stocks, banks lead indexes higher

Published December 21, 2017
Associated Press

The latest on developments in financial markets (All times local):

4 p.m.

Stocks are closing broadly higher on Wall Street, erasing modest losses from a day earlier.

Energy stocks and banks accounted for most of the gains Thursday.

Goldman Sachs gained 2.3 percent and Chevron climbed 3.3 percent.

Retailers also rose. Technology stocks lagged the most.

The Standard & Poor's 500 index rose 5 points, or 0.2 percent, to 2,684.

The Dow Jones industrial average rose 55 points, or 0.2 percent, to 24,782. The Nasdaq composite gained 4 points, or 0.1 percent, to 6,965.

Small-company stocks, which have more to gain from recently passed corporate tax cuts, rose more than the rest of the market.

The Russell 2000 rose 7 points, or 0.5 percent, to 1,547.

Bond prices rose. The yield on the 10-year Treasury fell to 2.48 percent.

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11:45 a.m.

Stocks are moving higher on Wall Street as energy companies and banks post solid gains.

Goldman Sachs and Chevron sent the Dow Jones industrial average higher at midday Thursday. Goldman rose 2.2 percent and Chevron added 2.9 percent.

Consulting firm Accenture jumped 3.2 percent after reporting earnings that beat analysts' estimates.

California utility PG&E plunged 15 percent after suspending its dividend citing the potential for liabilities related to the wildfires there.

The Standard & Poor's 500 index rose 10 points, or 0.4 percent, to 2,689.

The Dow rose 112 points, or 0.5 percent, to 24,838. The Nasdaq composite gained 23 points, or 0.3 percent, to 6,984.

Bond prices rose. The yield on the 10-year Treasury fell to 2.49 percent.

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9:35 a.m.

Stocks are opening moderately higher on Wall Street, led by gains in banks and technology companies.

Wells Fargo rose 1.3 percent in early trading Thursday, and consulting firm Accenture jumped 3.8 percent after reporting earnings that beat analysts' estimates.

California utility PG&E plunged 17 percent after suspending its dividend citing liabilities related to the wildfires there.

The Standard & Poor's 500 index rose 4 points, or 0.2 percent, to 2,684.

The Dow Jones industrial average rose 49 points, or 0.2 percent, to 24,777. The Nasdaq composite gained 17 points, or 0.2 percent, to 6,978.

Bond prices rose. The yield on the 10-year Treasury fell to 2.50 percent.