Early Friday trade saw a 0.5% increase in the S&P 500. The Nasdaq composite was up 0.8%, while the Dow Jones Industrial Average increased 124 points, or 0.3%. A judge blocked the purchase of the company by the manufacturer of Coach handbags, causing Capri Holdings, the owner of the premium brands Versace, Jimmy Choo, and Michael Kors, to lose nearly half of its worth. Higher Treasury yields have put pressure on the stock market this week, making stocks less desirable to investors.
THIS NEWS UPDATE IS BREAKING. Below is the earlier story from AP.
Despite a little increase in premarket trade, Wall Street was still headed for its first loss week since early September as investors were drawn away from stocks by higher Treasury yields.
