Markets Right Now: Technology leads more gains for US stocks

10 May

published on May 10, 2018 - 1:50 PM
Written by Associated Press

Stocks are closing solidly higher on Wall Street for the second day in a row, extending the market’s gains for the week.

Technology companies, which have continued to lead the market this year, contributed the most to the rally.

Apple rose 1.4 percent and Facebook climbed 1.6 percent. Google’s parent company, Alphabet, climbed 1.5 percent.

CenturyLink jumped 7.5 percent after reporting earnings that were much higher than analysts were expecting.

The S&P 500 index rose 25 points, or 0.9 percent, to 2,723.

The Dow Jones industrial average rose 196 points, or 0.8 percent, to 24,739.

The gain turned the Dow back to positive for the year.

The Nasdaq composite increased 65 points, or 0.9 percent, to 7,404.

Bond prices rose. The yield on the 10-year Treasury fell to 2.96 percent.

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