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Markets Rise, but Kraft Heinz Has a Brutal Day

Dow is up 181
By Newser Editors and Wire Services
Posted Feb 22, 2019 3:18 PM CST
Traders Michael Conlon, left, and Joseph Lawler work on the floor of the New York Stock Exchange, Friday, Feb. 22, 2019.   (AP Photo/Richard Drew)

(Newser) – Technology and health care companies led US stocks higher, giving the S&P 500 index its fourth straight weekly gain. The rally Friday came as investors grew hopeful that talks between the US and China would defuse a costly trade war between the two countries. The S&P 500 rose 17 points to 2,792, the Dow Jones Industrial Average rose 181 points to 26,031, and the Nasdaq added 67 points to 7,527, per the AP. Also Friday, Kraft Heinz plunged 27.5% after reporting huge write-downs to its main brands, slashing its dividend and disclosing an investigation by securities regulators. (Read more stock market stories.)

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