Markets Right Now: Stocks close out big quarterly gains

The latest on developments in financial markets (all times local):

4 p.m.

Stocks struggled to a mixed finish on Wall Street as the market closed out its best quarter in nearly five years.

Gains by technology and health care companies were offset by losses in other sectors Friday, including banks and materials companies.

Chipmaker did especially well. Nvidia jumped 5.1 percent and Intel climbed 3.1 percent.

Tesla plunged 13.9 percent after federal regulators sought to remove Elon Musk as CEO, accusing him of securities fraud.

European markets fell after Italy’s government announced a sharp increase in spending.

The S&P 500 index was little changed at 2,913. It rose 7.2 percent in the third quarter.

The Dow Jones Industrial Average added 18 points, or 0.1 percent, to 26,458. The Nasdaq composite rose 4 points, less than 0.1 percent, to 8,046.

___

11:45 a.m.

Stocks shook off an early slump and were moving higher in midday trading on Wall Street as chipmakers and energy companies put up solid gains.

Nvidia jumped 4 percent Friday and Intel climbed 3.4 percent.

Energy companies rose along with the price of crude oil. Occidental Petroleum rose 1.6 percent.

Electric car maker Tesla plunged 12 percent after federal regulators sought to remove Elon Musk as CEO, accusing him of securities fraud.

European markets fell after Italy’s populist government announced a sharp increase in spending that will add to the country’s already heavy debt load.

The S&P 500 index rose 3 points, or 0.1 percent, to 2,917.

The Dow Jones Industrial Average added 48 points, or 0.2 percent, to 26,486. The Nasdaq rose 12 points, or 0.1 percent, to 8,054.

___

9:35 a.m.

Stocks are opening slightly lower on Wall Street as the market gives back some of the ground it gained a day earlier.

Banks and energy

Read More Here...

Bookmark the permalink.