U.S. stocks move higher, led by banks

Daily Local News (West Chester, PA) - - BUSINESS -

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.

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