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published on August 28, 2019 - 1:24 PM
Written by Associated Press

(AP) — The latest on developments in financial markets (all times local):

4 p.m.
Stocks are closing higher on Wall Street Wednesday, led by gains in banks and retailers.

Wells Fargo climbed 1.6% and Home Depot rose 1.7%.

Tiffany & Co. gained 3% after the luxury jeweler’s second quarter results beat analysts’ projections.

The S&P 500 rose 18 points, or 0.6%, to 2,887.

The Dow Jones Industrial Average climbed 258, or 1%, to 26,035. The Nasdaq added 29, or 0.4%, to 7,856.

The major indexes are each still down more than 3% for the month.

Investors continued to shift money into U.S. government bonds, keeping long-term bond yields below short-term ones. The so-called inversion of the U.S. yield curve is a rare phenomenon that has correctly predicted previous recessions.

The yield on the 10-year Treasury fell to 1.47% compared with 1.51% for the 2-year Treasury.

11:45 a.m.
Stocks are rising on Wall Street as gains for banks and health care companies offset losses in the technology sector.

Wells Fargo climbed 1.7% in midday trading Wednesday and UnitedHealth Group added 2.4%.

Investors continued to shift money into U.S. government bonds, driving long-term bond yields further below short-term ones. The so-called inversion of the U.S. yield curve is a rare phenomenon that has correctly predicted previous recessions.

Autodesk plunged 9% after the software company slashed its full-year forecasts.

The S&P 500 rose 15 points, or 0.5%, to 2,884.

The Dow Jones Industrial Average climbed 189, or 0.7%, to 25,966. The Nasdaq added 28, or 0.4%, to 7,855.

Bond prices continued to rise as investors sought safety. The yield on the 10-year Treasury fell to 1.46%.

9:35 a.m.
Stocks are opening broadly lower on Wall Street, extending the markets losses, as technology and industrial companies move lower.

Autodesk plunged 13.6% in early trading Wednesday after the software company slashed its full-year forecasts.

European markets fell and the British pound weakened against other currencies after British Prime Minister Boris Johnson moved to suspend Parliament, which would hamper lawmakers’ efforts to stop a no-deal departure from the European Union.

The S&P 500 fell 11 points, or 0.4%, to 2,857.

The Dow Jones Industrial Average lost 102, or 0.4%, to 25,670. The Nasdaq fell 55, or 0.7%, to 7,770.

Bond prices continued to rise as investors sought safety. The yield on the 10-year Treasury fell to 1.45%.


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