published on September 11, 2017 - 1:15 PM
Written by Associated Press

(AP) — The latest on developments in financial markets (All times local):
4 p.m.

Relieved investors send stock prices solidly higher on Wall Street, pushing the Standard & Poor’s 500 index to another record high.

Insurers and travel-related companies posted big gains on Monday after Hurricane Irma appeared to be less destructive than many had feared.

Cruise operator Carnival and Chubb each gained 3.6 percent.

Home improvement companies, which rallied last week, fell as investors anticipated less demand for repairs. Lowe’s dropped 1.3 percent.

Apple rose 1.8 percent a day ahead of its latest iPhone launch.

The S&P 500 rose 26 points, or 1.1 percent, to 2,488.

The Dow Jones industrial average rose 259 points, or 1.2 percent, to 22,057. The Nasdaq increased 72 points, or 1.1 percent, to 6,432.

Bond prices fell. The yield on the 10-year Treasury rose to 2.13 percent.

11:45 a.m.
Insurers and travel companies are rising sharply after Hurricane Irma appeared to be less destructive than many had feared.

Royal Caribbean Cruises rose 3.3 percent Monday, and Chubb gained 3.6 percent.

Home improvement companies, which rallied last week, fell as investors anticipated less demand from homeowners needing to do repairs following the storm. Lowe’s dropped 1.5 percent.

Banks rose more than the rest of the market as bond yields jumped. Bank of America climbed 1.8 percent.

The Standard & Poor’s 500 index rose 23 points, or 0.7 percent, to 2,484.

The Dow Jones industrial average rose 234 points, or 1.1 percent, to 22,032.

The Nasdaq composite increased 64 points, or 1 percent, to 6,424.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.12 percent.

9:35 a.m.
Insurers and travel companies are rising sharply in early trading on Wall Street after Hurricane Irma didn’t turn out to be as destructive as many had feared.

Royal Caribbean Cruises rose 3 percent in early trading Monday, and Chubb gained 3.2 percent.

Technology companies were also rising in the early going. Apple added 1.2 percent and Facebook climbed 1.1 percent. Technology remains the highest-performing sector in the market this year.

Banks were also rising more than the rest of the market as bond yields jumped. Bank of America rose 1.2 percent.

The Standard & Poor’s 500 index rose 18 points, or 0.7 percent, to 2,479.

The Dow Jones industrial average rose 172 points, or 0.8 percent, to 21,479. The Nasdaq composite increased 66 points, or 1 percent, to 6,426.


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