US stocks move higher, on track for best week this year
Source: AP
By KEN SWEET
NEW YORK (AP) — Stocks rose again on Friday, keeping the market on track for its best week this year, helped by advances in industrial companies. Markets continue to be driven by confidence that the Federal Reserve will keep interest rates low for several more months.
KEEPING SCORE: The Dow Jones industrial average rose 21 points, or 0.1 percent, to 17,071 as of 12:05 p.m. Eastern. The Standard & Poor's 500 index rose a point to 2,014 and the Nasdaq composite rose 16 points, or 0.3 percent, to 4,827. The S&P 500 is up 3.2 percent this week, its biggest gain since December. It has risen eight days out of the past nine.
DIGGING AWAY: European commodities giant Glencore jumped 7 percent in London after the company announced it would slash zinc production by a third.
RECYCLING BIN: One material company not doing well was Alcoa, the aluminum company, which fell 57 cents, or 5 percent, to $10.44. The company reported a steep drop in profits for its third quarter, citing lower aluminum prices and a strong U.S. dollar.
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Read more: http://bigstory.ap.org/article/27bb932ac40c49f8801eacff200e1fee/us-stocks-open-higher-track-best-week-year
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