Markets Right Now: Earnings gains send stocks higher

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

9:35 a.m.

Stocks are opening higher on Wall Street after several big U.S. companies reported earnings that were better than analysts were expecting.

Apple jumped 5.1% early Wednesday after the iPhone maker reported results that beat estimates and announced a 5% increase in its dividend.

CVS Health rose 4.2% and Estee Lauder climbed 2.6%. Both companies also reported earnings that came in above forecasts.

Safe-play sectors like utilities fell.

The S&P 500 index rose 5 points, or 0.2%, to 2,951.

The Dow Jones Industrial Average rose 31 points, or 0.1%, to 26,624. The Nasdaq rose 38 points, or 0.5%, to 8,133.

Bond prices didn’t move much. The yield on the 10 year Treasury held steady at 2.50%.

Categories: National & International News