Markets Right Now: Stocks end bumpy week with modest gains
NEW YORK (AP) — The latest on developments in financial markets (All times local):
Stocks managed to post modest gains at the end of a turbulent week that left the market with its biggest weekly loss since March.
Technology companies, which suffered the brunt of the selling a day earlier, were back in the lead on Friday. Apple rose 1.4 percent. The recovery fit a recent pattern of investors using dips to put more money in stocks.
RV maker Camping World jumped 10 percent after reporting solid results.
The Standard & Poor’s 500 rose 3 points, or 0.1 percent, to 2,441. The index had its biggest drop since mid-May a day earlier as tensions escalated between the U.S. and North Korea.
The Dow Jones industrials rose 14 points, or 0.1 percent, to 21,858. The Nasdaq rose 39 points, or 0.6 percent, to 6,256.
Technology and health care companies led U.S. stocks slightly higher in midday trading, recouping some of the losses from the day before.
Investors welcomed new data showing inflation at the consumer level inched higher last month, suggesting the Federal Reserve may be less likely to raise interest rates next month. That weighed on bank shares.
Snap, the parent company of disappearing-message app Snapchat, plunged 11.6 percent after reporting weak user growth and a wider loss than analysts were expecting.
The Standard & Poor’s 500 index rose 5 points, or 0.2 percent, to 2,443. The index is coming off its biggest drop since mid-May.
The Dow Jones industrial average rose 34 points, or 0.2 percent, to 21,880. The Nasdaq rose 25 points, or 0.4 percent, to 6,242.
Stocks are opening modestly higher on Wall Street, led by gains in technology companies and banks.
Apple climbed 1.2 percent in early trading, and State Street gained 1 percent.
Elsewhere, some companies were making sharp moves after reporting their latest quarterly results.
Snap, the parent company of disappearing-message app Snapchat plunged 12.5 percent after reporting weak user growth and a wider loss than analysts were expecting.
The Standard & Poor’s 500 index rose 2 points, or 0.1 percent, to 2,440. The index is coming off its biggest drop since mid-May.
The Dow Jones industrial average rose 25 points, or 0.1 percent, to 21,866. The Nasdaq rose 8 points, or 0.1 percent, to 6,224.
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