Markets Right Now: Stocks trading higher on Wall Street

AP News
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Posted: Aug 03, 2016 12:11 PM

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

12:00

Stocks are slightly higher in midday trading after a survey showed that hiring by private companies continued at a solid but unspectacular clip in July.

Energy companies are climbing along with the price of oil. The biggest losses are going to household goods makers, phone and utility companies, which are typically considered safe investments.

Footwear maker Crocs and clothing maker Hanesbrands both slid on disappointing earnings reports.

The Dow Jones industrial average is up 25 points, or 0.1 percent, to 18,339.

The Standard & Poor's 500 is up 3 points, or 0.1 percent, to 2,160. The Nasdaq composite is up 8 points, or 0.1 percent, to 5,146.

Bond prices held steady and yields were flat at 1.56 percent.

U.S. crude oil rose 2.5 percent. Gold, silver and copper all fell.

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9:45 a.m.

Stocks are opening slightly lower on Wall Street following sideways moves in Europe and Asia.

A monthly survey of private hiring showed U.S. companies added 179,000 jobs in July, suggesting hiring remains healthy.

Fashion brand Kate Spade plunged in early trading after reporting weak quarterly profit and cutting its full year outlook. Clothing maker Hanesbrands slid after also disappointing with its quarterly results.

The Dow is down 17points, or 0.1 percent, to 18,298.

The Standard & Poor's 500 index is down 2 points, or 0.1 percent, to 2,155. The Nasdaq composite was unchanged at 5,137.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.54 percent.