Skip to content
Business
Link copied to clipboard

Banks, energy lead stocks

NEW YORK - U.S. stocks rose Friday as investors viewed a relatively weak jobs report for August as likely to help keep interest rates low. Banks, energy companies and automakers led the way.

NEW YORK - U.S. stocks rose Friday as investors viewed a relatively weak jobs report for August as likely to help keep interest rates low. Banks, energy companies and automakers led the way.

The Standard & Poor's 500 index rose 4.90 points, or 0.2 percent, to 2,475.55. The Dow Jones industrial average gained 39.46 points, or 0.2 percent, to 21,987.56. The blue chip index had its first change in more than two years on Friday, as longtime component DuPont combined with former rival Dow Chemical to form DowDuPont. The new company closed at $67.02.

The Nasdaq composite added 6.67 points, or 0.1 percent, to 6,435.33. It was the best week this year for the Nasdaq, as technology and health care companies surged. The index is at record highs.

The Russell 2000 index of smaller-company stocks advanced 8.29 points, or 0.6 percent, to 1,413.57.

General Motors said its sales improved in August, and it gained 82 cents, or 2.2 percent, to $37.36. Car sales declined overall, partly because Hurricane Harvey slowed car buying in Houston, one of the largest U.S. markets. But investors expect that will help sales in the months to come. Ford picked up 32 cents, or 2.9 percent, to $11.35. Fiat Chrysler gained 73 cents, or 7.2 percent, to $61.68.

Benchmark U.S. crude added 6 cents to $47.29 a barrel in New York. Brent crude, which is used to price international oils, fell 11 cents to $52.75 a barrel in London. Wholesale gasoline prices, which have surged this week, declined 3 cents to $1.75 a gallon.

Gold rose $8.20 to $1,330.40 an ounce. Silver jumped 24 cents, or 1.4 percent, to $17.82 an ounce. Copper gained 2 cents to $3.12 a pound.

The dollar rose to 110.24 yen from 109.98 yen. The euro slipped $1.1869 to from $1.1903.