Nasdaq Again Sets a Record

Dow slips 5
By Newser Editors and Wire Services
Posted Jan 13, 2017 3:11 PM CST
Trader John Panin works on the floor of the New York Stock Exchange, Thursday, Jan. 12, 2017.   (AP Photo/Richard Drew)

(Newser) – Gains in bank stocks left indexes mostly higher on Wall Street, the AP reports. The Nasdaq composite set another all-time high Friday even as the Dow Jones industrial average edged lower. JPMorgan Chase and Bank of America rose about 0.5% and Wells Fargo rose 1.5% after reporting earnings that were higher than analysts expected. Banks were also benefiting from an upward move in bond yields, which will lead to higher interest rates on loans. Real estate and materials companies fell. The Standard & Poor's 500 index climbed 4 points, or 0.2%, to 2,274. The Nasdaq composite gained 26 points, or 0.5%, to 5,574. The Dow industrials fell 5 points, less than 0.1%, to 19,885. (Read more Dow Jones stories.)

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