WASHINGTON: Industrial companies led U.S. stocks broadly higher in late-afternoon trading Friday, extending the market’s modest gains from the day before. Investors were cheering solid earnings from several companies. Banks and materials stocks were also up sharply. Energy companies also moved higher as the price of crude oil rose.
The Standard & Poor’s 500 index rose 14 points, or 0.6 percent, to 2,379 as of 3:30 p.m. Eastern Time. The Dow Jones industrial average added 121 points, or 0.6 percent, to 20,784. The Nasdaq composite index gained 27 points, or 0.5 percent, to 6,082. The Russell 2000 index of smaller stocks picked up 9 points, or 0.7 percent, to 1,370. The gains were broad. Four stocks rose for every one that fell on the New York Stock Exchange, and all 11 industry sectors in the S&P 500 rose. Major indexes are still on track to post modest declines for the week, however, following a big drop on Wednesday triggered by the deepening political turmoil in Washington.
