U.S. stocks move higher, led by banks
NEW YORK>> The latest on developments in global financial markets (all times local): 4:00 p.m. Banks led Wall Street to modest gains after several of them reported solid profits.
Technology stocks also rose Friday following encouraging economic news from the U.S. and China Friday. Intel rose 1.3 percent.
High-dividend stocks like utilities lagged the market as higher bond yields gave investors other options for getting income.
Twitter dropped 5 percent after Salesforce.com told the Financial Times it wasn’t interested in buying the company. Twitter has lost one-third of its value in the past 10 days.
The Dow Jones industrial average rose 39 points, or 0.2 percent, to 18,138.
The Standard & Poor’s 500 index rose a fraction to 2,132. The Nasdaq composite climbed 1 point, less than 0.1 percent, to 5,214.
Bond prices fell. The yield on the 10-year Treasury note rose to 1.79 percent.