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News / Business

Stocks tick upward as video game makers jump, but banks skid

By MARLEY JAY, Associated Press
Published: November 8, 2017, 4:32pm
5 Photos
FILE - In this Oct. 8, 2014, file photo, a Wall Street address is carved in the side of a building in New York. U.S. stocks are lower in early trading Wednesday, Nov. 8, 2017, as falling interest rates continue to put pressure on banks, and technology and energy companies also move lower.
FILE - In this Oct. 8, 2014, file photo, a Wall Street address is carved in the side of a building in New York. U.S. stocks are lower in early trading Wednesday, Nov. 8, 2017, as falling interest rates continue to put pressure on banks, and technology and energy companies also move lower. (AP Photo/Mark Lennihan, File) Photo Gallery

NEW YORK — U.S. stock indexes finished with small gains Wednesday as video game makers gave technology companies a boost and household goods companies also rose. However, a recent decline in interest rates continued to put pressure on banks.

“Grand Theft Auto” and “NBA2K” maker Take-Two Interactive Software soared after it reported better-than-expected sales, while Activision Blizzard jumped after it said the newest “Call of Duty” game had a strong debut over the weekend. Technology companies rose for the 10th day in a row. Companies that make and sell household goods, like Colgate-Palmolive and Wal-Mart, gained ground as well. Energy companies declined and banks fell again as interest rates have weakened since late October, which makes mortgages and other loans less profitable.

The Standard & Poor’s 500 index rose 3.74 points, or 0.1 percent, to 2,594.38. The Dow Jones industrial average gained 6.13 points, or less than 0.1 percent, to 23,563.36. The Nasdaq composite rose 21.34 points, or 0.3 percent, to 6,789.12. All three closed at record highs. The Russell 2000 index of smaller-company stocks picked up 2.64 points, or 0.2 percent, to 1,481.73.

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