Markets Right Now: Stocks rise as rate cut looks more likely

Craig Esposito

FILE – In this May 30, 2019, file photo trader Craig Esposito, right, works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, June 7. (AP Photo/Richard Drew, File)

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

4:00 p.m.

Stocks are closing higher Friday as a lackluster report on hiring increases the odds the Federal Reserve will cut interest rates in the coming months.

Investors are also hoping the U.S. and Mexico can reach a deal on trade that avoids tariffs on Mexican imports to the U.S.

Technology and social media stocks notched strong gains. Apple and Microsoft each gained about 3% while Twitter rose nearly 4%.

Bond prices rose. The yield on the 10 year Treasury fell to 2.08% from 2.12% Thursday.

The S&P 500 index rose 29 points, or 1.1%, to 2,873. It was the indexes best week since late November.

The Dow Jones industrials rose 263 points, or 1%, to 25,983. The Nasdaq gained 126 points, or 1.7%, to 7,742.

________

11:55 a.m.

Stocks are rising Friday as a lackluster report on hiring increases the odds the Federal Reserve will cut interest rates in the coming months.

Investors are also hoping the U.S. and Mexico can reach a deal on trade that avoids tariffs on Mexican imports to the U.S.

Technology and social media stocks are showing strong gains. Apple and Microsoft each gained about 3% while Twitter rose nearly 4%.

Bond prices rose. The yield on the 10 year Treasury fell to 2.08% from 2.12% Thursday.

The S&P 500 index rose 29 points, or 1.1%, to 2,873. The index is on pace for its strongest week since late November.

The Dow Jones industrials rose 249 points, or 1%, to 25,970. The Nasdaq gained 120 points, or 1.6%, to 7,735.

___

9:35 a.m.

Stocks are rising Friday as a lackluster report on hiring increases the odds the Federal Reserve will cut interest rates in the coming months.

Investors also bought bonds in anticipation of lower rates. The yield on the 10 year Treasury fell to 2.07% from 2.12% Thursday.

Health care and household product companies posted early gains while financials declined.

Beyond Meat and Zoom Technologies each soared higher after beating estimates with their first quarterly reports since going public. Beyond Meat rose 29% and Zoom gained 21%.

The S&P 500 index rose 14 points, or 0.5%, to 2,858. The index is on pace for its strongest week since late November.

The Dow Jones industrials rose 129 points, or 0.5%, to 25,850. The Nasdaq gained 46 points, or 0.6%, to 7,662.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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