Markets Right Now: Tech leads the way higher for US stocks

Trader Craig Spector, center, works on the floor of the New York Stock Exchange, Friday, May 4, 2018. U.S. stocks are little changed Friday morning following a slightly disappointing jobs report for the month of April. (AP Photo/Richard Drew)

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

4 p.m.

Stocks are closing sharply higher on Wall Street, led by gains in technology stocks as Apple rose to another all-time high.

Apple jumped 3.9 percent Friday after billionaire Warren Buffet said his company bought more of the stock.

Retailers, banks and most other groups of stocks are also higher.

Engineering and construction company Fluor slumped 22 percent after reporting a surprise loss in the first quarter and slashing its forecast for the year.

The S&P 500 index rose 33 points, or 1.3 percent, to 2,663.

The Dow Jones industrial average rose 332 points, or 1.4 percent, to 24,262. The Nasdaq composite climbed 121 points, or 1.7 percent, to 7,209.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.95 percent.

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11:45 a.m.

Technology stocks are leading the market higher in midday trading on Wall street as Apple approaches another all-time high.

Apple jumped 3.3 percent Friday after billionaire Warren Buffet said his company bought more of the stock.

Consumer-focused companies were also higher. Comcast rose 2.8 percent and Disney climbed 2 percent.

Engineering and construction company Fluor slumped 21.6 percent after reporting a surprise loss in the first quarter and slashing its forecast for the year.

The S&P 500 index rose 23 points, or 0.9 percent, to 2,652.

The Dow Jones industrial average rose 228 points, or 1 percent, to 24,157. The Nasdaq composite climbed 91 points, or 1.3 percent, to 7,180.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.96 percent.

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9:35 a.m.

Stocks are opening moderately lower across the board, putting the market on track for its fourth loss this week.

Banks and health care companies led the declines in early trading Friday. JPMorgan Chase lost 1 percent and drugmaker Merck gave up 0.9 percent.

Engineering and construction company Fluor slumped 21 percent after reporting a surprise loss in the first quarter and slashing its forecast for the year.

The S&P 500 index fell 6 points, or 0.2 percent, to 2,623.

The Dow Jones industrial average lost 57 points to 23,872. The Nasdaq composite fell 4 points, or 0.1 percent, to 7,083.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.93 percent.

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