published on August 24, 2018 - 1:12 PM
Written by Associated Press

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

4 p.m.
The S&P 500 index is closing at a record high, just two days after the current bull market in stocks became the longest in history.

The Nasdaq composite and the Russell 2000 indexes also closed at all-time highs Friday.

The Dow Jones Industrial Average is still below the high it set in January.

Technology companies, the best-performing sector in the market this year, led the gains. Video game maker Take-Two Interactive jumped 2.5 percent.

The S&P 500 rose 17 points, or 0.6 percent, to 2,874, beating the record it set in January by two points.

The Dow gained 133 points, or 0.5 percent, to 25,790. The Nasdaq added 67 points, or 0.9 percent, to 7,945.

The price of oil broke a seven-week losing streak, finishing this week 5 percent higher.

11:45 a.m.
Stocks are broadly higher in midday trading on Wall Street, led by solid gains in technology, materials and energy companies.

Software maker Autodesk surged 14.3 percent Friday after issuing a better-than-expected quarterly report and strong forecasts.

U.S. crude oil rose again and is up 5.9 percent this week. Concho Resources gained 2.8 percent.

Investors are weighing new remarks from Federal Reserve Chairman Jerome Powell, who says he expects the Fed to gradually raise interest rates if the U.S. economic expansion remains strong.

The S&P 500 index rose 17 points, or 0.6 percent, to 2,874.

The Dow Jones Industrial Average gained 157 points, or 0.6 percent, to 25,814. The Nasdaq composite added 63 points, or 0.8 percent, to 7,942.

9:35 a.m.
Stocks are rising in morning trading as technology companies climb and oil prices continue to rally, leading energy companies higher.

Software make Autodesk surged 13 percent Friday after issuing a better-than-expected quarterly report and strong forecasts.

Other technology companies also rose. Adobe Systems picked up 1.3 percent.

U.S. crude oil rose again and is up 6 percent this week. ConocoPhillips gained 1.8 percent.

The S&P 500 index rose 8 points, or 0.3 percent, to 2,865.

The Dow Jones Industrial Average gained 70 points, or 0.3 percent, to 25,727. The Nasdaq composite advanced 40 points, or 0.5 percent, to 7,919.

Bond prices slumped. The yield on the 10-year Treasury note rose to 2.84 percent.


e-Newsletter Signup

Our weekly poll

Is your company participating in the federal payroll tax deferral program?

Loading ... Loading ...

Central Valley Biz Blogs

Popup
shares

3/5

Article views

remaining

Sign up icon

To continue website access to

TheBusinessJournal.com

please create a FREE account OR login here.

1/5

Article views

remaining

SKIP THE POP-UPS
For only $59 for one 1-year you will receive the Print edition along with EVERYTHING The Business Journal has to offer digitally, PLUS you will have unlimited 24- hour a day access to view articles at

TheBusinessJournal.com

Use Promo Code

*New Subscribers Only

Digital and Print

XX Days Remaining

until you can view 5 more free articles

Sign up icon

Want access? Subscribe now & save $20 OFF.

Use Promo Code

WEBSUB20

* NEW SUBSCRIBERS ONLY