US stocks nudge higher

Dhaka,  Mon,  24 July 2017
Published : 18 Mar 2017, 11:47:52
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US stocks nudge higher

US stocks nudge higher
US stock indexes nudged higher on Friday, making only modest moves for the second straight day. Gains for dividend-paying stocks offset drops for banks and health care stocks, reports AP.

The S&P 500 index is on track to deliver its seventh week of gains in the last eight, following a big rally earlier in the week sparked by the Federal Reserve's announcement on interest rates.

The S&P 500 rose 2 points to 2,383, as of 3:00 pm Eastern time, after meandering between small gains and losses through the day. 

The Dow Jones industrial average added 20 points, or 0.1 per cent, to 20,955. 

The Nasdaq composite rose 7 points, or 0.1 per cent, to 5,907. Slightly more stocks rose than fell on the New York Stock Exchange.

Amgen had the biggest loss in the S&P 500 after results from a study of its cholesterol drug Repatha disappointed investors. It sank $11.84, or 6.6 per cent, to $168.27. 

Financial stocks were the weakest in the index, falling 0.8 per cent. 

Adobe surged to the biggest gain in the S&P 500 after reporting stronger revenue and earnings for its latest quarter than analysts expected. It jumped $5.48, or 4.5 per cent, to $127.83.

Benchmark US crude rose 3 cents to settle at $48.78 per barrel. Brent crude, which is used to price international oils, rose 2 cents to $51.76 per barrel.

Natural gas rose 5 cents to $2.95 per 1,000 cubic feet. Wholesale gasoline inched up less than a cent to $1.60 per gallon, and heating oil rose a fraction of a penny to $1.51 per gallon.

Gold rose $3.10 to settle at $1,230.20 per ounce. Silver added 8 cents to $17.41, and copper rose 1 cent to $2.69 per pound.

The euro edged down to $1.0741 from $1.0749 late Thursday, and the British pound rose to $1.2396 from $1.2358. The dollar slipped to 112.69 Japanese yen from 113.26 yen.
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