Markets Right Now: Health care leads gains for US stocks

Traders Gregory Rowe, left, and Robert Charlop talk on the floor of the New York Stock Exchange, Friday, May 11, 2018. U.S. stocks moved mostly higher in morning trading Friday, adding to solid gains from a day earlier. (AP Photo/Richard Drew)

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

4 p.m.

Health care companies led U.S. indexes modestly higher on Wall Street, closing out the market's biggest weekly gain since March.

Drug makers and other health companies ended broadly higher Friday after President Donald Trump announced plans to rein in drug prices that didn't seem to pose immediate threats to health care company profits.

CVS Health rose 3.2 percent and Merck climbed 2.8 percent.

Those gains outweighed losses in technology companies. Chipmaker Nvidia fell 2.2 percent.

The S&P 500 index rose 4 points, or 0.2 percent, to 2,727.

The Dow Jones industrial average gained 91 points, or 0.4 percent, to 24,831. The Nasdaq composite edged down 2 points to 7,402.

Bond prices fell. The yield on the 10-year Treasury rose to 2.97 percent.

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11:45 a.m.

U.S. stocks moved mostly higher in midday trading, adding to solid gains from a day earlier.

Health care and telecommunications stocks accounted for much of the market's gains Friday.

Technology stocks and makers of packaged foods, beverages and other consumer goods lagged. Crude oil prices headed lower.

Security software company Symantec slumped 35 percent after revealing an internal investigation that could delay its annual report.

The S&P 500 index rose 3 points, or 0.1 percent, to 2,726.

The Dow Jones industrial average gained 62 points, or 0.2 percent, to 24,803. The Nasdaq composite was little changed at 7,405.

Bond prices fell. The yield on the 10-year Treasury rose to 2.97 percent.

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9:45 a.m.

Stocks are off to a mixed start on Wall Street, as gains by health care and consumer goods companies outweigh losses in technology firms and energy companies.

Biogen gained 1.3 percent and Kraft Heinz added 1.2 percent in early trading Friday.

Security software company Symantec slumped 30 percent after revealing an internal investigation that could delay its annual report.

The S&P 500 index rose 3 points, or 0.1 percent, to 2,726.

The Dow Jones industrial average gained 85 points, or 0.3 percent, to 24,825. The Nasdaq composite fell 11 points, or 0.1 percent, to 7,393.

Bond prices are little changed. The yield on the 10-year Treasury note held at 2.96 percent.

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