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Modest gains push stocks to record highs

Trader Neil Catania works on the floor of

Trader Neil Catania works on the floor of the NYSE, Wednesday, July 12, 2017. Credit: AP / Richard Drew

Stocks closed modestly higher on Wall Street, notching record highs for several major U.S. indexes.

Gains for big technology and health care companies drove the market higher Friday. Microsoft climbed 1.4 percent and Amgen increased 1.2 percent.

Banks lagged the rest of the market. JPMorgan Chase fell 0.9 percent after saying it expects weaker interest income going forward.

Big-dividend stocks like utilities and real estate companies rose as bond yields fell. Real estate company GGP gained 2.9 percent.

The Standard & Poor’s 500 index added 11 points, or 0.5 percent, to 2,459.

The Dow Jones industrial average rose 84 points, or 0.4 percent, to 21,637. The Nasdaq composite rose 38 points, or 0.6 percent, to 6,312.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.32 percent.

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