Markets Right Now: Stock indexes hover near record levels
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are hovering near record levels on Wall Street as investors pause following a monthlong rally.
Banks and makers of consumer products were doing well in midday trading Tuesday.
Bank of America rose 1.1% and Philip Morris International climbed 1.2%.
Health care companies were broadly lower. Medical device maker Medtronic gave up 1.7%.
The S&P 500 fell 2 points, or 0.1%, to 3,076.
The Dow Jones Industrial Average climbed 43 points, or 0.2%, to 27,508. The Nasdaq rose 14 points, or 0.2%, to 8,447.
Bond prices fell. The yield on the 10-year Treasury rose to 1.87%.
Stocks are opening slightly higher on Wall Street as investors become more optimistic that the U.S. and China are making progress on scaling back their trade dispute.
Banks and materials companies were rising in early trading Tuesday. Bank of America rose 1% mining and company Freeport-McMoRan rose 2.7%.
Encouraging comments from Commerce Secretary Wilbur Ross about progress in trade talks with China helped to brighten sentiment.
The S&P 500 was up less than 1 point at 3,079.
The Dow Jones Industrial Average climbed 27 points, or 0.1%, to 27,492. The Nasdaq rose 5 points, or 0.1%, to 8,437.
Bond prices fell. The yield on the 10-year Treasury rose to 1.84%.