U.S. Stock Indexes Edge Mostly Higher; Oil Down

(AP) —
Traders on the floor of the New York Stock Exchange, Friday. (AP Photo/Richard Drew)

U.S. stocks moved mostly higher in morning trading Friday, adding to solid gains from a day earlier. Health-care stocks and banks accounted for much of the market’s gains. Technology stocks and makers of packaged foods, beverages and other consumer goods lagged. Crude oil prices headed lower.

KEEPING SCORE: The S&P 500 index rose 4 points, or 0.2 percent, to 2,727 as of 11:22 a.m. Eastern Time. The Dow Jones Industrial Average climbed 71 points, or 0.3 percent, to 24,811. The Nasdaq fell 1 point to 7,403. The Russell 2000 index of smaller-company stocks picked up 5 points, or 0.3 percent, to 1,609.

ON THE HOOK: Biogen rose 2 percent to $279.42 and Regeneron Pharmaceuticals added 4.3 percent to $301.34 as investors waited for President Donald Trump to announce plans intended to control drug prices.

REVIEW THIS: Yelp fell 8.3 percent to $43.79 after the online review portal gave an outlook for its current quarter that fell short of analysts’ expectations.

GOOD QUARTER: Trade Desk vaulted 38.7 percent to $73.12 after the digital-advertising-platform company raised its annual forecasts after a strong first quarter.

UNDER SCRUTINY: Symantec slumped 34.8 percent to $19.03 after the security-software company revealed an internal investigation that could delay its annual report. The company also said that the matter has been referred to the Securities and Exchange Commission. Symantec also gave weak profit forecasts.

ENERGY: Oil futures were trading near their highest level since 2014 as President Donald Trump’s decision this week to re-impose sanctions on Iran, the world’s fifth-biggest oil producer, reverberated. Benchmark U.S. crude oil slipped 7 cents to $71.29 a barrel in New York. Brent crude, used to price international oils, shed 3 cents to $77.44.

BOND YIELDS: Bond prices fell. The yield on the 10-year Treasury rose to 2.98 percent from 2.96 percent late Thursday.

CURRENCIES: The dollar rose to 109.38 yen from 109.37 yen on Thursday. The euro strengthened to $1.1944 from $1.1927.

MARKETS OVERSEAS: European stock indexes were mostly lower after a strong rally saw many indexes strike multi-week highs. Germany’s DAX fell 0.1 percent and France’s CAC 40 slid 0.1 percent. Britain’s FTSE 100 gained 0.3 percent. Earlier in Asia, Japan’s benchmark Nikkei 225 rose 1.2 percent and South Korea’s Kospi added 0.6 percent. Hong Kong’s Hang Seng jumped 1.0 percent.

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