Stocks Opened in Record Territory

U.S. stocks opened in record territory on Friday, as investors brace for the Federal Reserve to raise interest rates for the first time in a year at at next week’s meeting. The Dow Jones Industrial Average lately climbed 35.26 points, or 0.18%, to 19,650.07. The S&P 500 gained 7.29 points, or 0.32%, to 2,253.48. The Nasdaq Composite advanced 30.91 points, or 0.57%, to 5,448.26.

Oil futures moved higher again on Friday as traders looked ahead to a key weekend meeting between OPEC and non-OPEC countries about whether or not to cut oil production. Crude oil for January delivery jumped 46 cents, or 0.9%, to $51.30 a barrel. February Brent crude gained 27 cents, or 0.5%, to $54.16.

Coca-Cola Co. said Friday that Muhtar Kent would resign from his role as chief executive in May 2017, to be succeeded by James Quincey, the beverage company’s president and operating chief.

Large banks in Britain want the UK government to allow their industry to remain subject to EU laws for up to five years after Brexit, a move likely to enrage eurosceptics who want to break away from the bloc’s legal system as soon as possible.

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