Markets Right Now: Stocks close out big quarterly gains

NEW YORK – The latest on developments in financial markets (all times local):

4 p.m.

Stocks struggled to a mixed finish on Wall Street as the market closed out its best quarter in nearly five years.

Gains by technology and health care companies were offset by losses in other sectors Friday, including banks and materials companies.

Chipmaker did especially well. Nvidia jumped 5.1 per cent and Intel climbed 3.1 per cent.

Tesla plunged 13.9 per cent after federal regulators sought to remove Elon Musk as CEO, accusing him of securities fraud.

European markets fell after Italy’s government announced a sharp increase in spending.

The S&P 500 index was little changed at 2,913. It rose 7.2 per cent in the third quarter.

The Dow Jones Industrial Average added 18 points, or 0.1 per cent, to 26,458. The Nasdaq composite rose 4 points, less than 0.1 per cent, to 8,046.

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11:45 a.m.

Stocks shook off an early slump and were moving higher in midday trading on Wall Street as chipmakers and energy companies put up solid gains.

Nvidia jumped 4 per cent Friday and Intel climbed 3.4 per cent.

Energy companies rose along with the price of crude oil. Occidental Petroleum rose 1.6 per cent.

Electric car maker Tesla plunged 12 per cent after federal regulators sought to remove Elon Musk as CEO, accusing him of securities fraud.

European markets fell after Italy’s populist government announced a sharp increase in spending that will add to the country’s already heavy debt load.

The S&P 500 index rose 3 points, or 0.1 per cent, to 2,917.

The Dow Jones Industrial Average added 48 points, or 0.2 per cent, to 26,486. The Nasdaq rose 12 points, or 0.1 per cent, to 8,054.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street as the market gives back some of the ground it gained a day earlier.

Banks and energy companies had the biggest losses in early trading Friday.

Electric car maker Tesla plunged 12 per cent after the Securities and Exchange Commission sought to remove Elon Musk as CEO, accusing him of securities fraud.

European markets fell broadly over concerns that Italy’s populist government announced a sharp increase in spending that will add to the country’s already heavy debt load.

The S&P 500 index fell 3 points, or 0.1 per cent, to 2,910.

The Dow Jones Industrial Average slipped 32 points to 26,407. The Nasdaq fell 9 points, or 0.1 per cent, to 8,034.

Bond prices rose. The yield on the 10-year Treasury fell to 3.04 per cent.