Markets Right Now: Stocks move higher on Wall Street

AP News
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Posted: Oct 18, 2016 11:49 AM

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

11:45 a.m.

Strong earnings reports from a number of companies are driving solid gains on Wall Street in midday trading.

Netflix soared 19 percent Tuesday after reporting earnings that were far better than analysts were expecting. Goldman Sachs rose 2 percent and Comerica gained 3 percent after both banks also reported better-than-expected results.

Safe-play stocks lagged the market. Utilities and phone companies were among the weakest sectors in the Standard & Poor's 500 index.

The Dow Jones industrial average rose 95 points, or 0.5 percent, to 18,184.

The S&P 500 index climbed 15 points, or 0.7 percent, to 2,142. The Nasdaq composite increased 56 points, or 1.1 percent, to 5,256.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.75 percent.

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9:35 a.m.

Strong earnings reports from a number of companies are driving solid gains on Wall Street in early trading.

Netflix soared 19 percent early Tuesday after reporting earnings late Monday that were far better than analysts were expecting. Goldman Sachs rose 2 percent and Comerica gained 3 percent after both banks also reported better-than-expected results.

Safe-play stocks lagged the market. Phone companies and utilities posted the smallest gains of the 11 sectors in the Standard & Poor's 500 index.

The Dow Jones industrial average rose 113 points, or 0.6 percent, to 18,200.

The S&P 500 index climbed 15 points, or 0.7 percent, to 2,142. The Nasdaq composite increased 51 points, or 1 percent, to 5,250.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.78 percent.