Stocks are rising modestly in early morning trading Friday as the market extends a winning streak into a sixth day. Bond yields climbed again as investors felt more comfortable moving money out of low-risk assets. Raw material suppliers and health care stocks led the advances.
KEEPING SCORE: The Dow Jones industrial average rose 29 points, or 0.2 percent, to 18,535 at 10:28 a.m. Eastern time. The Standard & Poor’s 500 index gained 2 points, or 0.1 percent, to 2,165. The Nasdaq composite was flat at 5,033.
SUPPLEMENT SURGE: Herbalife rose $9.21, or nearly 16 percent, to $68.57 after the supplements company agreed to pay $200 million to resolve allegations by the federal government that it deceived consumers. Herbalife avoided charges that it operated as a pyramid scheme, as was alleged investor Bill Ackman.
BANK BLUES: Wells Fargo fell $1.10, or 2 percent, to $47.84 after the consumer banking giant reported that second-quarter earnings fell from a year ago.
ATTACK IN FRANCE: Trading was subdued in Europe after a man drove a truck into crowds celebrating Bastille Day along the beachfront of Nice, killing at least 84 people.
EUROPE SLIPS: France’s CAC-40 was down 0.5 percent while Germany’s DAX fell 0.2 percent. Britain’s FTSE 100 was 0.1 percent lower.
TRAVEL SLUMP: Travel-related stocks fell in the wake of the attack. Cruise operator Royal Caribbean fell $1.26, or 1.8 percent, to $70.63 and Delta Air Lines fell 59 cents, or 1.4 percent, to $40.38.
CHINA GROWTH: The Chinese government says its economy expanded at a steady 6.7 percent rate in the April-June period as spending on construction by state-owned companies in the world’s second-largest economy helped compensate for weak private sector demand.
ASIA’S DAY: Japan’s Nikkei 225 rose 0.7 percent. The Hang Seng index in Hong Kong climbed 0.5 percent and South Korea’s Kospi index added 0.4 percent.
BONDS AND CURRENCIES: Bond prices fell. The yield on the 10-year Treasury note rose to 1.59 percent from 1.54 percent. The euro fell to $1.1076 from $1.1123 and the dollar rose to 105.93 yen from 105.43 yen.
ENERGY: Benchmark U.S. crude rose 38 cents to $46.06 a barrel in New York, while Brent crude, a standard for international oil prices, rose 44 cents to $47.81 a barrel in London.
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