Stocks Rise As Debt Talks Continue In Washington
All 10 industry groups in the S&P 500 index rose, led by energy and technology companies.
Gold fell, and took gold mining stocks down with it. Gold for December delivery fell $28.70, or 2.2 percent, to $1,268.20 per ounce, its lowest price since mid-July. Mining company Barrick Gold fell 73 cents, or 3.9 percent, to $17.81. Newmont Mining fell 68 cents, or 2.6 percent, to $25.62.
The price of crude oil fell 99 cents to $102.02 a barrel after a report showed growing supplies of oil outside of OPEC.
The yield on the 10-year Treasury note rose slightly to 2.69 percent from 2.68 percent.The stock gains were enough to put the big indexes back into positive territory for the week, other than the Nasdaq, which fell almost a half-percent this week. Among other stocks making notable moves: â¿¿ Safeway rose $2.18, or 7 percent, to $33.75, the biggest gain in the S&P 500 index. The grocery store operator said late Thursday that it plans to sell its Chicago-area Dominick's stores, allowing it to concentrate on its more profitable business. â¿¿ Micron Technology fell $1.59, or 9 percent, to $16.84 after the flash memory maker's quarterly profit left investors wanting more. â¿¿ Gap sank $2.65, or 7 percent, to $36.83 after it reported a 3 percent drop in sales for September. Analysts had expected a gain of 1.6 percent. Micron, Gap, and Newmont Mining were the three biggest decliners in the S&P 500.
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