Markets Right Now: Earnings drive US stocks to more records

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

4:00 p.m.

Solid earnings reports from several big companies helped drive U.S. stock indexes to more record highs.

McDonald's rose 4.8 percent Tuesday and Caterpillar climbed 5.9 percent. Both reported results that easily beat analysts' forecasts.

Barnes & Noble soared 16.9 percent after an activist investor announced he had bought a stake in the struggling bookseller and urged it to pursue a sale.

Banks posted big gains. Citigroup rose 2.9 percent.

The Standard & Poor's 500 index rose 7 points, or 0.3 percent, to 2,477.

The Dow Jones industrial average rose 100 points, or 0.5 percent, to 21,613.

Technology stocks lagged the market. The Nasdaq inched up 1 point to 6,412.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.33 percent.

___

11:45 a.m.

Stocks are higher in midday trading on Wall Street as several companies gained after reporting solid earnings.

McDonald's rose 4 percent Tuesday and Caterpillar climbed 5 percent.

Barnes & Noble jumped 13 percent after an activist investor announced he had bought a stake in the struggling bookseller and urged it to pursue a sale.

Banks posted some of the biggest gains. Citigroup rose 3.5 percent.

Major indexes were trading at record highs.

The Standard & Poor's 500 index rose 10 points, or 0.4 percent, to 2,480.

The Dow Jones industrial average rose 131 points, or 0.6 percent, to 21,644.

Technology stocks lagged the market. The Nasdaq gave inched up 5 points, or 0.1 percent, to 6,415.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.31 percent.

___

9:35 a.m.

Gains for banks and energy stocks are leading indexes higher in early trading on Wall Street.

Heavy equipment maker Caterpillar jumped 3 percent Tuesday after turning in a strong quarter, and mining company Freeport-McMoRan jumped 10 percent after reporting revenue that was higher than analysts were expecting.

The Standard & Poor's 500 index rose 6 points, or 0.3 percent, to 2,476.

The Dow Jones industrial average rose 117 points, or 0.6 percent, to 21,626.

Technology stocks fell. The Nasdaq composite gave up 10 points, or 0.2 percent, to 6,400.

Must Read

Have we seen this story before? Black Monday 30 years later

Oct 19, 2017

Thirty years after Black Monday, U.S. markets are reaching highs never seen before

Senate confirms former banker Mnuchin as Treasury secretary

Feb 14, 2017

The Senate has confirmed President Donald Trump's pick for treasury secretary over objections by Democrats

Michigan civil rights agency condemns 'no foreigners' sign

Aug 11, 2017

The Michigan Department of Civil Rights has opened a complaint against a man whose front-yard sign advertising the sale of his home indicates he won't sell to foreigners

People also read these

Have we seen this story before? Black Monday 30 years later

Oct 19, 2017

Thirty years after Black Monday, U.S. markets are reaching highs never seen before

Senate confirms former banker Mnuchin as Treasury secretary

Feb 14, 2017

The Senate has confirmed President Donald Trump's pick for treasury secretary over objections by Democrats

Michigan civil rights agency condemns 'no foreigners' sign

Aug 11, 2017

The Michigan Department of Civil Rights has opened a complaint against a man whose front-yard sign advertising the sale of his home indicates he won't sell to foreigners

Weather, 20 December
Houston Weather
+7

High: +11° Low: -2°

Humidity: 83%

Wind: NNE - 7 KPH

Canberra Weather
+27

High: +27° Low: +17°

Humidity: 87%

Wind: W - 20 KPH

Roissy-en-France Weather
+6

High: +6° Low: -5°

Humidity: 87%

Wind: ENE - 7 KPH

Florence Weather
+9

High: +9° Low: +6°

Humidity: 97%

Wind: ENE - 17 KPH

Parga Weather
+7

High: +16° Low: +4°

Humidity: 100%

Wind: SE - 25 KPH