Markets Right Now: Stocks close higher on Wall Street

Trader Michael Capolino works on the floor of the New York Stock Exchange, Monday, May 7, 2018. U.S. stocks moved broadly higher in early trading Monday, adding to solid gains at the end of last week. (AP Photo/Richard Drew)

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

4 p.m.

Stocks closed higher on Wall Street, adding to the market's gains from last week.

Technology companies and banks pulled the market higher on Monday. Energy companies also rose as the price of crude oil closed above $70 a barrel for the first time since November 2014.

Microsoft rose 1.1 percent and Bank of America climbed 1.2 percent. Exxon Mobil added 1.1 percent.

Beverage makers and other consumer goods companies were among the laggards.

The S&P 500 index rose 9 points, or 0.3 percent, to 2,672.

The Dow Jones industrial average rose 94 points, or 0.4 percent, to 24,357. The Nasdaq composite climbed 55 points, or 0.8 percent, to 7,265.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.95 percent.

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11:45 a.m.

Stocks are solidly higher in midday trading on Wall Street, adding to solid gains at the end of last week.

Technology companies accounted for a big slice of the gains Monday. Apple rose 1.7 percent and Microsoft rose 1.1 percent.

Energy stocks also rose as crude oil prices traded above $70 a barrel for the first time since November 2014. Exxon Mobil climbed 2.6 percent.

Beverage makers and other consumer goods companies were among the laggards.

The S&P 500 index rose 13 points, or 0.5 percent, to 2,676.

The Dow Jones industrial average rose 156 points, or 0.6 percent, to 24,419. The Nasdaq composite climbed 64 points, or 0.9 percent, to 7,274.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.96 percent.

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9:35 a.m.

Energy stocks are leading U.S. indexes higher in early trading as the price of crude oil climbs.

Exxon Mobil added 1.2 percent early Monday, and Schlumberger rose 1.2 percent. The gains came as the price of U.S. crude oil traded above $70 a barrel for the first time since November 2014.

Starbucks rose 1 percent after Nestle paid the company $7 billion for the rights to sell Starbucks coffee around the world.

The S&P 500 index rose 11 points, or 0.4 percent, to 2,675.

The Dow Jones industrial average rose 119 points, or 0.5 percent, to 24,383. The Nasdaq composite climbed 45 points, or 0.6 percent, to 7,254.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.95 percent.

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