Positive day on Wall Street as AT&T reports stronger than expected profits

Posted on: July 26th, 2017 by ABC News No Comments

tarabird/iStock/Thinkstock(NEW YORK) — Communications stocks climbed on Wednesday as the major indices on Wall Street all ended higher. But health stocks weren’t as lucky.

The Dow Jones Industrial Average climbed to a close of 21,711.01 — gaining 97.58 on the day.

The Nasdaq jumped 10.57 for the session, ending the day at 6,422.75, while the S&P 500 inched up to 2,477.83 — a gain of 0.7.

Crude oil prices jumped again, this time nearly 1.7 percent — with the cost of a barrel finishing the day at $48.69.

Winners and losers: AT&T stock climbed five percent Wednesday, jumping to $38.03 per share. That after the company reported higher than expected profit totals in the second quarter. It also reported being on track to complete a purchase of Time Warner.

Other communications companies saw gains as well, with Time Warner stock climbing nearly two percent and Verizon jumping almost one percent.

It was a rough day, however, for health stocks. Biotech company Amgen Inc. saw its shares fall nearly three percent to $175.89.

Medical device marker Baxter International saw its stock drop 1.4 percent, while scientific research company Thermo Fisher Scientific dropped almost three percent.

Copyright © 2017, ABC Radio. All rights reserved.

Leave a Reply

You must be logged in to post a comment.