For many younger investors, the stock market has only gone one direction: up. The S&P 500 is in the midst of its longest-ever bull run, and it’s been nearly nine and a half years since the last drop of 20 percent. (Aug. 22)
Stocks are broadly higher on Wall Street in early trading as banks and media companies move higher.
JPMorgan Chase jumped 3.5% early Friday after reporting a solid increase in earnings, and Disney soared 10.5% after unveiling a new video streaming service to go up against Netflix. Netflix was off 3.1%.
Chevron sank 4.6% after announcing a deal to buy Anadarko Petroleum for $33 billion. Anadarko skyrocketed 32.5% higher.
The S&P 500 index rose 18 points, or 0.6%, to 2,906.
The Dow Jones Industrial Average rose 256 points, or 1%, to 26,410. The Nasdaq rose 38 points, or 0.5%, to 7,985.
Bond prices fell sharply, sending yields higher. The yield on the benchmark 10-year Treasury rose to 2.55% from 2.50% late Thursday.
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