AP News

Stocks move higher, head for solid weekly gains


NEW YORK (AP) — Stocks are higher in midday trading as the market gets set to close out a turbulent week with solid gains.

The Standard & Poor's 500 index rose eight points, or 0.5 percent, to 1,880 as of midday Friday. If the gains hold the index will close at a record high, its first in two weeks.

The Dow Jones industrial average rose 93 points, or 0.6 percent, to 16,424. The Nasdaq composite slipped two points, or 0.1 percent, to 4,316.

All three major U.S. indexes are up about 2 percent for the week.

Nike fell 3 percent after the company said a stronger U.S. dollar will dampen its sales this quarter.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.77 percent.


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