Markets Right Now: Stocks open solidly higher on Wall Street


NEW YORK (AP) — The Latest on developments in global financial markets (all times local):

9:35 a.m.

Stocks are opening solidly higher on Wall Street, led by gains in technology stocks and banks.

Apple and Microsoft each rose about 1 percent in early trading Tuesday. Among banks, JMorgan Chase gained 1 percent.

In earnings news, homebuilder Toll Brothers jumped 4 percent after its results came in ahead of what analysts were expecting.

The Dow Jones industrial average rose 151 points, or 0.9 percent, to 17,644. The Standard & Poor’s 500 index rose 15 points, or 0.8 percent, to 2,063. The Nasdaq composite climbed 39 points, or 0.8 percent, to 4,805.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.86 percent.

___

11:45 a.m.

Stocks indexes are wavering in midday trading, while energy stocks fall along with the price of crude oil.

Exxon Mobil fell 1 percent Monday, one of the biggest declines in the Dow Jones industrial average.

The price of benchmark U.S. crude oil fell 1 percent to just under $48 a barrel in New York.

In deal news, Monsanto jumped 5 percent after the German drug and chemical maker Bayer offered to buy the company for $62 billion.

The Dow was up 10 points, or 0.1 percent, to 17,509. The Standard & Poor’s 500 index was down a point at 2,050. The Nasdaq composite edged up 5 points, or 0.1 percent, to 4,775.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 1.85 percent.

___

9:35 a.m.

Stocks indexes are wavering in early trading, while energy stocks fall along with the price of crude oil.

Exxon Mobil fell 1 percent in early trading Monday, one of the biggest declines in the Dow Jones industrial average.

The price of benchmark U.S. crude oil fell 2 percent to $47 a barrel in New York.

In deal news, Monsanto jumped 6 percent after the German drug and chemical maker Bayer offered to buy the company for $62 billion.

The Dow was up 10 points, or 0.1 percent, to 17,509. The Standard & Poor’s 500 index was up a fraction at 2,052. The Nasdaq composite climbed edged up 14 points, or 0.3 percent, to 4,787.

Bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 1.84 percent.

___

10:30 a.m.

European stock markets are largely trading in narrow ranges as further evidence emerged of an economic slowdown across the 19-country eurozone.

Financial information company Markit said Monday that its initial reading of the composite purchasing managers’ index — a broad gauge of business activity across the services and manufacturing sectors — fell to a 16-month low of 52.9 points in May from April’s 53.0. Anything above 50 indicates expansion.

Stephen Brown, European economist at Capital Economics, says the small monthly fall adds to the evidence that second-quarter growth is “unlikely to repeat” the first-quarter’s strong 0.5 percent gain.

That kept a lid on Europe’s main markets, with Germany’s DAX up 0.4 percent at 9,959 while France’s CAC-40 fell 0.1 percent to 4,350. Britain’s FTSE 100 index was flat at 6,156.

RECOMMENDED FOR YOU


9:55 pm
Updated: 10:05 pm. |    
Juveniles injured in car accident
11:08 am
Updated: 12:28 pm. |    
WL-S to stage ‘Peter Pan’
comments powered by Disqus