Tech leads the way higher for US stocks

Friday, May 4, 2018, Vol. 42, No. 18

NEW YORK (AP) — Stocks are closing sharply higher on Wall Street, led by gains in technology stocks as Apple rose to another all-time high.

Apple jumped 3.9 percent Friday after billionaire Warren Buffet said his company bought more of the stock.

Retailers, banks and most other groups of stocks are also higher.

Engineering and construction company Fluor slumped 22 percent after reporting a surprise loss in the first quarter and slashing its forecast for the year.

The S&P 500 index rose 33 points, or 1.3 percent, to 2,663.

The Dow Jones industrial average rose 332 points, or 1.4 percent, to 24,262. The Nasdaq composite climbed 121 points, or 1.7 percent, to 7,209.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.95 percent.