Markets Right Now: Stocks end mixed after early rally fades

FILE - In this Jan. 11, 2016, file photo, specialist Anthony Rinaldi is silhouetted on a screen at his post on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Monday, May 14, 2018. (AP Photo/Richard Drew, File)

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

4 p.m.

Stocks struggled to a mixed finish on Wall Street as weakness in smaller-company stocks offset gains in large companies.

The market had rallied early Monday on hopes that trade tensions were easing between the U.S. and China. By afternoon, those gains were mostly gone.

Casino operators and equipment companies got a boost from a Supreme Court decision that cleared the way for states to legalize sports betting. MGM Resorts rose 1.6 percent.

The S&P 500 rose 2 points, or 0.1 percent, to 2,730.

The Dow Jones industrial average gained 68 points, or 0.3 percent, to 24,899. The Nasdaq climbed 8 points, or 0.1 percent, to 7,411.

Small-company stocks fell. The Russell 2000 lost 6 points, or 0.4 percent, to 1,600.

The yield on the 10-year Treasury rose to 2.99 percent.

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11:45 a.m.

Stocks are broadly higher at midday on Wall Street as investors hope that trade tensions will ease between the U.S. and China.

U.S. companies that could benefit from a rescue of the struggling Chinese telecommunications company ZTE rallied Monday. Acacia Communications jumped 9.6 percent.

President Donald Trump tweeted over the weekend that the U.S. could ease sanctions on ZTE.

Viacom slumped 6 percent and CBS rose 4 percent after CBS sued to block efforts to force the company combine with Viacom.

The S&P 500 rose 9 points, or 0.3 percent, to 2,736.

The Dow Jones industrial average gained 114 points, or 0.5 percent, to 24,941. The Nasdaq climbed 32 points, or 0.4 percent, to 7,435.

Bond prices fell. The yield on the 10-year Treasury rose to 2.99 percent.

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9:35 a.m.

Stocks are opening moderately higher on Wall Street, led by gains in technology, health care and energy companies.

U.S. companies that would stand to benefit from an effort to rescue ZTE, a Chinese technology company hurt by U.S. tariffs, rose in early trading Monday. Acacia Communications jumped 13 percent.

Google's parent company, Alphabet, was up 1 percent in early trading, and Exxon Mobil was also up 1 percent.

The S&P 500 index rose 9 points, or 0.3 percent, to 2,736.

The Dow Jones industrial average gained 114 points, or 0.5 percent, to 24,941. The Nasdaq composite climbed 32 points, or 0.4 percent, to 7,435.

Bond prices fell. The yield on the 10-year Treasury rose to 2.99 percent.

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