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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

(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. (Read more Dow Jones stories.)

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