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Continuing to set records

U.S. stocks are rising Friday as major indexes continue to set records. Some of the largest gains are going to industries that have been left out of the post-election rally, including health care companies and makers of household goods. Banks, which have led that surge, are slipping.

KEEPING SCORE: The Dow Jones industrial average added 62 points, or 0.3 per cent, to 19,677 as of 11:18 a.m. Eastern time. The Standard & Poor's 500 index rose 8 points, or 0.3 per cent, to 2,253. The Nasdaq composite gained 27 points, or 0.5 per cent, to 5,444.

The Russell 2000 index of smaller-company stocks advanced 3 points, or 0.2 per cent, to 1,389. All four indexes closed at record highs Thursday and they're on pace for their biggest weekly gains since the presidential election.

HEALTH CARE HOPPING: Drug companies bounced back. Biotechnology companies had been hit hard this week after President-elect Donald Trump said he wants to reduce drug prices, but they have now recovered those losses. Biogen jumped $12.59, or 4.3 per cent, to $302.13 and Botox maker Allergan rose $4.88, or 2.6 per cent, to $193.35 while Pfizer added 86 cents, or 2.8 per cent, to $31.80.

TECH CLIMBING: Technology stocks rose for the sixth consecutive day. They are still slightly lagging the market since last month's presidential election. Chipmaker Broadcom rose $8.54, or 5 per cent, to $179.25 after reporting earnings that were far above expectations. The company also doubled its quarterly dividend. Apple gained $2.14, or 1.9 per cent, to $114.27. The tech giant also hasn't done much since the election. Google parent Alphabet, which has traded lower over the last month, picked up $7.91, or 1 per cent, to $803.08.

TAKEOFF: United Continental rose $1.78, or 2.4 per cent, to $74.52 and American Airlines leaped $1.73, or 3.6 pecent, to $49.78 after both companies reported encouraging revenue measurements.

GET SOME REFRESHMENTS: Coca-Cola climbed as investors were pleased with the company's CEO transition plans. Coke said Muhtar Kent, 64, will step down in May after eight years as CEO. He will remain chairman of the board. Chief Operating Officer James Quincey, who has worked at the company for 20 years, will become CEO. The company's stock gained $1.07, or 2.6 per cent, to $42.05.

Other consumer goods makers also climbed. Procter & Gamble, which makes Tide detergent, Charmin toilet paper, and many other products, picked up 56 cents to $84.06. PepsiCo gained $1.31, or 1.3 per cent, to $103.46. The household goods sector is down about 2 per cent since the election. Only those companies and utilities have fallen since Nov. 9.

HARD TIMES: Furniture and housewares company Restoration Hardware tumbled after its fourth-quarter forecast was far weaker than analysts expected. The company said consumers spent less because of the election and it shipped its catalogues later than planned. Sales of its holiday collection have also been disappointing. The stock lost $6.46, or 16.6 per cent, to $32.53. It's down 59 per cent this year.

BANKS: Financial companies were headed for a rare loss. Financial services firm T. Rowe Price gave up $1.33, or 1.7 per cent, to $77.29 and insurer Aflac shed $1.25, or 1.8 per cent, to $68.37. The S&P 500 financial index has climbed 18 per cent since the election. That's twice as much as any other sector, and the S&P 500 overall is up 2.8 per cent.

ENERGY: Benchmark U.S. crude oil jumped 57 cents, or 1.1 per cent, to $51.41 a barrel in New York. Brent crude, the international standard, added 19 cents to $54.08 a barrel in London.



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