Markets Right Now: U.S. stock indexes post solid gains

AP News
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Posted: May 02, 2016 4:08 PM
Markets Right Now: U.S. stock indexes post solid gains

NEW YORK (AP) — The latest on global financial markets (all times local):

4:00 p.m.

Stocks are closing solidly higher as the market claws back some of the ground it lost the week before.

Casino operator Wynn Resorts jumped 7 percent Monday, one of several consumer stocks to post big gains.

Apollo Education, which runs the University of Phoenix, jumped 12 percent Monday after a group of investors raised their bid for the company.

Halliburton rose 2 percent after its long-planned deal to acquire rival oilfield services company Baker Hughes was called off because of antitrust concerns.

The Dow Jones industrial average climbed 117 points, or 0.7 percent, to 17,891.

The Standard & Poor's 500 index gained 16 points, or 0.8 percent, to 2,081. The Nasdaq composite added 42 points, or 0.9 percent, to 4,817.

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11:45 a.m.

Stocks are modestly higher at midday on Wall Street as the market claws back some of the ground it lost the week before.

Apollo Education, which runs the University of Phoenix, jumped 8 percent Monday after a group of investors raised their bid for the company.

Halliburton rose 2 percent after its long-planned deal to acquire rival oilfield services company Baker Hughes was called off because of antitrust concerns.

The Dow Jones industrial average rose 54 points, or 0.3 percent, to 17,827.

The Standard & Poor's 500 index gained five points, or 0.3 percent, to 2,070. The Nasdaq composite was little changed at 4,777.

Last week stocks had their biggest decline since February.

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

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9:35 a.m.

Stocks are opening mostly higher on Wall Street, led by gains in telecommunications companies.

Verizon Communications and AT&T each rose about 1 percent in early trading Monday.

Apollo Education, which runs the University of Phoenix, jumped 9 percent after a group of investors raised their bid for the company.

Baker Hughes rose 1 percent and Halliburton rose 3 percent after the two companies called off their planned merger.

The Dow Jones industrial average rose 29 points, or 0.2 percent, to 17,807.

The Standard & Poor's 500 index gained three points, or 0.2 percent, to 2,069. The Nasdaq composite was little changed at 4,776.

The price of oil slipped 1 percent to $45 a barrel.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.84 percent.

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12:35 p.m.

European stocks are pushing higher despite low trading volumes due to a bank holiday in some countries in the region.

While Britain's market was closed Monday, Germany's DAX was up 1 percent at 10,142.82 and France's CAC 40 was up 0.6 percent at 4,454.81.

Wall Street was also expected to edge up on the open, with Dow and S&P 500 futures each up 0.2 percent, while oil prices recovered from early losses. The U.S. benchmark contract for crude oil was down 7 cents at $45.85.

The gains are in line with what appears to be greater confidence in the global economy, although that sentiment remains fragile.

Earlier, stocks in Japan led Asia lower as investors reacted with disappointment to the Bank of Japan's decision to not provide more monetary stimulus.