Markets Right Now: US indexes gain, remain at record highs

AP News
|
Posted: Feb 21, 2017 11:58 AM

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

11:45 a.m.

Stocks are trading at record highs on Wall Street as the market resumed its climb after a holiday break.

Energy companies rose in midday trading Tuesday along with the price of oil. Devon Energy jumped 3.1 percent.

Food makers were also rising more than the rest of the market. J.M. Smucker gained 4.6 percent and Mondelez climbed 4.4 percent.

Kraft Heinz fell 3 percent after withdrawing its offer to buy Unilever.

The Standard & Poor's 500 index rose 8 points, or 0.4 percent, to 2,360.

The Dow Jones industrial average gained 68 points, or 0.3 percent, to 20,692. The Nasdaq composite rose 14 points, or 0.3 percent, to 5,853.

Overseas markets were mostly higher.

The yield on the 10-year Treasury note held steady at 2.42 percent.

___

9:35 a.m.

Stocks are opening higher on Wall Street as investors return from the holiday weekend in a buying mood.

Energy companies and banks posted some of the biggest gains in early trading Tuesday. Hess rose 2 percent and Northern Trust rose 1 percent.

The gains sent indexes further into record territory. U.S. markets were closed Monday for Presidents Day.

Several companies were rising after reporting better results than analysts expected. Wal-Mart jumped 2.6 percent and Home Depot rose 1 percent.

The Standard & Poor's 500 index rose 7 points, or 0.3 percent, to 2,358.

The Dow Jones industrial average gained 71 points, or 0.4 percent, to 20,699. The Nasdaq composite rose 18 points, or 0.3 percent, to 5,856.