For most of this week investors have been waiting for answers about the fate of the Republican-backed American Health Care Act.
NEW YORK — U.S. stocks are opening higher Friday morning as technology companies climb and most other sectors make small gains. For most of this week investors have been waiting for answers about the fate of the Republican-backed American Health Care Act, which is scheduled to come up for a vote later Friday after it was delayed a day earlier.
KEEPING SCORE: The Standard & Poor's 500 index picked up 7 points, or 0.3 percent, to 2,352 as of 10:03 a.m. Eastern time. The Dow Jones industrial average added 37 points, or 0.2 percent, to 20,693. The Nasdaq composite jumped 33 points, or 0.6 percent, to 5,850. The Russell 2000 index of smaller-company stocks advanced 7 points, or 0.5 percent, to 1,360.
The S&P 500 is on track for its biggest weekly loss this year.
HEALTH BILL HOLDUP: Stocks were higher for most of the day on Thursday, but the gains mostly evaporated after House Republicans postponed the health care vote because of a lack of support. Investors aren't overwhelmingly concerned about the health care proposal itself, but they wonder if a protracted debate or a failed bill would delay aspects of President Donald Trump's agenda that the market is excited about. Those include tax cuts, greater infrastructure spending, and cuts in regulations.
TECH LEADS: Technology companies made the biggest gains on the market, continuing a strong run over the last few months. Chipmaker Micron Technology surged $2.49, or 9.4 percent, to $28.96 after its second-quarter earnings were much better than analysts expected, and data storage company Western Digital jumped $3.88, or 5.1 percent, to $80.07. Elsewhere Apple picked up 58 cents to $141.50.
Real estate and consumer focused companies also traded higher.