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Markets Right Now: Industrial stocks lead modest gains in US

NEW YORK, N.Y. – The latest on developments in global financial markets (all times local):

4:00 p.m.

Stocks are closing higher as industrial companies get a boost from the weaker dollar.

Caterpillar jumped 1.7 per cent Wednesday, one of the biggest gains in the Dow Jones industrial average.

Metals prices rose, sending mining companies higher. Freeport McMoRan climbed 3 per cent.

The Dow Jones industrial average gained 66 points, or 0.4 per cent, to close at 18,005. The Standard & Poor’s 500 index added 7 points, or 0.3 per cent, to 2,119. The Nasdaq composite index rose 12 points, or 0.3 per cent, to 4,974.

Bond prices rose. The yield on the 10-Year U.S. Treasury note slipped to 1.70 per cent.

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11:45 a.m.

Stocks are mostly higher as industrial companies get a boost from the weaker dollar.

Caterpillar jumped 1.6 per cent Wednesday, one of the biggest gains in the Dow Jones industrial average.

Metals prices rose, sending mining companies higher. Freeport McMoRan rose 4 per cent.

The Dow Jones industrial average gained 53 points, or 0.3 per cent, at 17,992. The Standard & Poor’s 500 index added 4 points, or 0.2 per cent, at 2,116. The Nasdaq composite index rose 9 points, or 0.2 per cent, to 4,971.

Bond prices rose. The yield on the 10-Year U.S. Treasury note slipped to 1.70 per cent.

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9:40 a.m.

Stocks are opening higher Wednesday as energy, machinery and chemicals companies get a boost from the weaker dollar.

U.S. oil is up 1.7 per cent at $51.21 a barrel in New York. Anadarko Petroleum rose 2.5 per cent and Marathon Oil added 3 per cent.

VeriFone Systems, which makes terminals used for electronic payments, is down 28 per cent after slashing its outlook and saying it will eliminate jobs.

The Dow Jones industrial average gained 72 points, or 0.4 per cent, at 18,010. The Standard & Poor’s 500 index added 7 points, or 0.3 per cent, at 2,118. The Nasdaq composite index rose 12 points, or 0.3 per cent, to 4,974.

Bond prices rose. The yield on the 10-Year U.S. Treasury note slipped to 1.71 per cent.