July 31, 2021

US stocks open higher but are still headed for a weekly loss

Stocks are opening higher on Wall Street Friday, but the market is still on track to end this holiday-shortened week lower following two weeks of gains. The S&P 500 was up 0.5% in the early going, led by gains in banks and industrial companies. Major banks including JP Morgan Chase will kick off the latest round of quarterly earnings reports next week, and investors are expecting to see big gains compared with the same period a year ago, when pandemic restrictions shut down many parts of the economy. Bond yields moved higher but are still far below where they were in the spring.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

BANGKOK (AP) — World stocks were mixed Friday after Wall Street pulled back from recent record highs.

Benchmarks advanced in Paris, Frankfurt, London and Hong Kong but fell in Tokyo, Sydney and Shanghai. U.S. futures rose.

The yield on the…

Read full article here: apnews.com