Markets Right Now: Late buying wave sends US stocks higher

FILE- In this Nov. 8, 2018, file photo traders Eric Schumacher, left, and Richard Deviccaro work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, Nov. 16. (AP Photo/Richard Drew, File)

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

4 p.m.

A late afternoon wave of buying sent U.S. stocks higher, but the market still ended the week with a loss.

Health care and energy companies powered the gains Friday. UnitedHealth Group added 2.3 percent and Chevron rose 1.8 percent.

The market got a boost in the afternoon after President Donald Trump expressed optimism that the U.S. and China will resolve their trade dispute.

Large retailers and media and communications companies were the laggards.

Chipmaker Nvidia plunged 18.8 percent after saying it had a large number of unsold chips because of a drop in cryptocurrency mining.

The S&P 500 rose 6 points, or 0.2 percent, to 2,736.

The Dow Jones Industrial Average climbed 123 points, or 0.5 percent, to 25,413. The Nasdaq lost 11 points, or 0.2 percent, to 7,247.

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11:45 a.m.

U.S. stock indexes are down in midday trading as losses in retailers and internet and technology companies outweigh gains elsewhere in the market.

Chipmaker Nvidia plunged 18 percent Friday after saying it had a large number of unsold chips because of a big drop in mining of cryptocurrencies.

Health care companies and utilities rose. UnitedHealth Group added 1.6 percent.

Troubled California power provider PG&E surged 33 percent after the president of the utility's state regulator said it was essential for a power company to have the financial strength to operate.

The S&P 500 index fell 7 points, or 0.3 percent, to 2,722.

The Dow Jones Industrial Average lost 11 points, less than 0.1 percent, to 25,279. The Nasdaq composite lost 68 points, or 0.9 percent, to 7,191.

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9:35 a.m.

Stocks are opening mostly lower on Wall Street, erasing some of the market's gains from a day earlier.

Technology stocks fell more than the rest of the market in early trading Friday.

Chipmaker Nvidia plunged 19 percent after saying it had a large number of unsold chips because of a big drop in mining of cryptocurrencies.

Troubled California power provider PG&E surged 37 percent after the president of the utility's state regulator said it was essential for a power company to have the financial strength to operate.

The S&P 500 index fell 13 points, or 0.4 percent, to 2,716.

The Dow Jones Industrial Average lost 101 points, or 0.4 percent, to 25,189. The Nasdaq composite lost 77 points, or 1.1 percent, to 7,181.