Markets Right Now: Modest gains for stocks set more records

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

4 p.m.

Stocks managed to post modest gains on Wall Street, enough to set more record closing highs.

Technology and health care stocks rose more than the rest of the market Wednesday, while banks and phone companies fell.

Johnson & Johnson rose 2.1 percent after the company asked regulators to approve a prostate cancer drug.

Luxury goods maker Coach dropped 2.8 percent after saying it will change its name to Tapestry.

The Standard & Poor's 500 index rose 4 points, or 0.2 percent, to 2,555. The Dow Jones industrial average rose 42 points, or 0.2 percent, 22,872. The Nasdaq rose 16 points, or 0.2 percent, to 6,603. All three closed at record highs.

Small-company stocks lagged the rest of the market. The Russell 2000 index fell 1 point to 1,506.

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11:45 a.m.

Stock indexes are barely budging in midday trading on Wall Street as gains for technology companies are offset by losses elsewhere.

Household goods makers were also higher Wednesday, while banks and energy companies fell.

Kroger is up 4.5 percent after saying it will consider selling its convenience store business. Luxury handbag maker Coach is down 2.3 percent after saying it will change its name to Tapestry.

The Standard & Poor's 500 index was little changed at 2,550.

The Dow Jones industrial average edged up 6 points, less than 0.1 percent, 22,836. The Dow closed at a record high the day before.

The Nasdaq composite was up 4 points, less than 0.1 percent, to 6,591.

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9:35 a.m.

Stocks are off to a mixed start on Wall Street as investors get ready for a wave of third-quarter company earnings reports.

Airlines were off to another strong start Wednesday. Delta Air Lines rose 1 percent after reporting a solid quarter. JetBlue Airways jumped 2.2 percent.

Supermarket operator Kroger soared 4.6 percent after saying it was considering for its convenience store business.

The Standard & Poor's 500 index was little changed at 2,550.

The Dow Jones industrial average edged up 5 points, less than 0.1 percent, 22,837. The Dow closed at a record high the day before.

The Nasdaq composite slipped 4 points, less than 0.1 percent, to 6,582.