The latest on developments in financial markets (All times local):
4:00 p.m.
Solid gains in phone companies and some retailers pushed U.S. stock indexes modestly higher on Wall Street, recouping some of the ground they lost a day earlier.
AT&T and Verizon each rose 1.3 per cent Thursday.
Wal-Mart Stores rose 3.2 per cent and L Brands climbed 2.7 per cent after both reported better earnings than analysts were expecting.
The slight gains came a day after the market’s worst drop since September as political tumult deepened in Washington. Investors are worried that President Donald Trump will have trouble enacting tax cuts and other business-friendly policies.
The Standard & Poor’s 500 index increased 8 points, or 0.4 per cent, to 2,365.
The Dow Jones industrial average gained 56 points, or 0.3 per cent, to 20,663. The Nasdaq composite rose 43 points, or 0.7 per cent, to 6,055.
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11:45 a.m.
Stocks edged higher in midday trading a day after the market posted its biggest single-day loss in eight months.
Wal-Mart Stores rose 2.7 per cent and L Brands climbed 3.5 per cent Thursday after both companies reported better earnings than analysts were expecting.
Phone companies also rose. AT&T gained 1.4 per cent and Verizon climbed 1 per cent.
The slight gains came a day after the market’s worst drop since September as political tumult deepened in Washington. Investors are worried that President Donald Trump will have trouble enacting tax cuts and other business-friendly policies.
The Standard & Poor’s 500 index increased 3 points, or 0.2 per cent, to 2,360.
The Dow Jones industrial average edged up 14 points, less than 0.1 per cent, to 20,618. The Nasdaq composite rose 20 points, or 0.3 per cent, to 6,031.
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9:35 a.m.
Stocks are modestly higher in early trading on Wall Street as traders were relieved to see some positive results from retailers.
Wal-Mart Stores, L Brands and Ralph Lauren all rose early Thursday after reporting better results than analysts were expecting.
The slight gains came a day after the market had its worst drop since September as deepening political tumult in Washington got investors worried that President Donald Trump will have trouble enacting tax cuts and other business-friendly policies.
The Standard & Poor’s 500 rose 1 point to 2,358.
The Dow Jones industrial average was little changed at 20,608. The Nasdaq gained 10 points to 6,022.
The Associated Press
