The latest on developments in financial markets (All times local):
4:00 p.m.
Major U.S. stock indexes are leaping to all-time highs in a broad rally.
The gains Wednesday were driven by stocks that tend to do well when the economy is growing, like consumer and technology companies, as well as stocks that pay high dividends, like phone and real estate companies.
It was the market's biggest gain since early November.
Nike rose 3 per cent, the biggest gain in the Dow Jones industrial average.
Drugmakers fell after President-elect Donald Trump said he wants to reduce drug prices.
The Dow surged 297 points, or 1.6 per cent, to 19,549. The Standard & Poor's 500 index climbed 29 points, or 1.3 per cent, to 2,241. The Nasdaq composite gained 60 points, or 1.1 per cent, to 5,393.
Those were record high closes for the Dow and S&P 500.
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11:45 a.m.
U.S. stocks are moving higher in midday trading, keeping major indexes at record highs.
Bond yields fell Wednesday, prompting investors to shift money into high-dividend stocks like real estate investment trusts, utilities and phone companies.
Health care stocks took steep losses after President-elect Donald Trump said he wants to reduce drug prices.
Pfizer fell 2.6 per cent and Merck lost 1.9 per cent.
The Dow Jones industrial average rose 46 points, or 0.2 per cent, to 19,298. The Standard & Poor's 500 index rose 3 points, or 0.2 per cent, to 2,215. The Nasdaq composite gave up 3 points, or 0.1 per cent, to 5,329.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.36 per cent.
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9:35 a.m.
Stocks are opening slightly lower on Wall Street as the market backs away from record highs set the day before.
Drugmakers were among the biggest losers in early trading on Wednesday. Pfizer and Merck each fell 2 per cent.
Other companies were lower after reporting disappointing results. Vera Bradley, which makes handbags and accessories, dropped 12 per cent and liquor maker Brown-Forman fell 1 per cent.
The Dow Jones industrial average fell 3 points, less than 0.1 per cent, to 19,247. The Standard & Poor's 500 index slipped 2 points, or 0.1 per cent, to 2,209. The Nasdaq composite gave up 7 points, or 0.1 per cent, to 5,325.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.36 per cent.
This content appears as provided to The Globe by the originating wire service. It has not been edited by Globe staff.