U.S. stocks rose for the sixth day in a row Friday as major indexes continued to set records. The biggest gains went to companies that have been mostly left out of the postelection rally, including health care companies and makers of household goods.
ON WALL STREET: At the close, the Dow Jones industrial average was up 142 points, about 0.7 percent, at nearly 19,757. The Standard & Poor’s 500 index rose 13.3 points, about 0.6 percent, to 2,259.5. The Nasdaq composite gained nearly 27.1 points, about 0.5 percent, to 5,444.5. All three indexes and the Russell 2000 index of smaller-company stocks closed at record highs Thursday and they’re on pace for their biggest weekly gains since the presidential election.
OIL PRICES: At the close, benchmark U.S. crude oil was up 65 cents at $51.49 a barrel on the New York Mercantile Exchange. In London on the Intercontinental Exchange Europe, Brent crude, the international standard, was up 41 cents at $54.30 a barrel.
BOND PRICES: U.S. government bond prices didn’t move much. The yield on the 10-year Treasury note inched up to 2.46 percent, its highest in about 18 months, from 2.41 percent late Thursday. That yield is used to set interest rates on many kinds of loans including mortgages.
FED MEETING: Next week Federal Reserve policymakers will meet for the last time in 2016. Investors expect the central bank to raise its key interest rate, something it hasn’t done since last December. Wall Street will look for clues in reports on the meeting about the Fed’s intentions about future rate increases.