NEW YORK (AP) - The latest on developments in financial markets (All times local):
4:00 p.m.
Stocks marched to more record highs on Wall Street, powered by gains in technology and health care companies.
Drugmaker Vertex Pharmaceuticals surged 21 percent Wednesday following positive results from potential treatments for cystic fibrosis.
Tech stocks continued to recover, and the technology component of the Standard & Poor’s 500 index broke the record high it reached in 2000 during the dot-com bubble.
Scripps Networks jumped 14.7 percent and Discovery Communications rose 4.3 percent following a report that they could combine.
The S&P 500 rose 13 points, or 0.5 percent, to 2,473.
The Dow Jones industrial average climbed 66 points, or 0.3 percent, to 21,640. The Nasdaq composite gained 40 points, or 0.6 percent, to 6,385.
The Dow, S&P 500 and Nasdaq composite all closed at record highs.
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noon
U.S. stocks are rising as gains in health care and media companies put major indexes on track to set more records.
Drugmaker Vertex Pharmaceuticals surged 22 percent on positive results from potential treatments for cystic fibrosis.
Morgan Stanley rose 2 percent after the investment bank’s trading desks had a good second quarter.
Scripps Networks jumped 14 percent and Discovery Communications rose 3.5 percent following a report that they could combine.
The Standard & Poor’s 500 index edged up 8 points, or 0.4 percent, to 2,469.
The Dow Jones industrial average rose 22 points, or 0.1 percent, to 21,596. The Nasdaq composite rose 40 points, or 0.6 percent, to 6,384.
The S&P 500 and Nasdaq closed at record highs Tuesday.
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9:35 a.m.
Stocks are rising further in morning trading as health care companies, banks and consumer companies all gain ground.
Vertex Pharmaceuticals surged 25 percent Wednesday after it reported positive results from studies of a cystic fibrosis drug.
The technology component of the Standard & Poor’s 500 index reached an all-time high.
Scripps Networks climbed 18.7 percent and Discovery Communications gained 7.1 percent after the Wall Street Journal said the companies are discussing a combination.
The S&P 500 edged up 5 points, or 0.2 percent, to 2,466.
The Dow Jones industrial average was flat at 21,577. The Nasdaq rose 31 points, or 0.5 percent, to 6,375.
The S&P 500 and Nasdaq closed at record highs Tuesday.
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