Dow Ends Day Up 53
S&P 500, Nasdaq also close higher
By Newser Editors and Wire Services
Posted Jul 22, 2016 3:16 PM CDT
John McNierney, right, trading GE stock for Citadel Securities, updates John Panin, left, and Greg Rowe, center, with the stock's price at the New York Stock Exchange, Friday, July 22, 2016.   (AP Photo/Mark Lennihan)

(Newser) – Stocks are closing higher, giving the market its fourth straight weekly gain, the AP reports. The gains Friday were led by phone companies and utilities, traditional safe-play stocks that have done far better than the rest of the market over the past year. Those high-dividend stocks have been appealing to investors hungry for income, particularly with the yields on US government bonds near historic lows of well under 2%. AT&T rose 1.4% and Exelon rose 2.6%. The Standard & Poor's 500 index rose 9 points, or 0.5%, to 2,175. The Dow Jones industrial average gained 53 points, or 0.3%, to 18,570. The Nasdaq composite increased 26 points, or 0.5%, to 5,100.

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