Markets Right Now: Stocks slip to small losses at midday

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

12:00 p.m.

Stocks lost their early momentum by midday Tuesday as technology stocks turned lower.

The Dow Jones industrials slipped 9 points to 26,053, after rising as much as 177 points just after trading began.

Tech stocks, which have helped lead the market’s rally in June, suffered late-morning losses. Advanced Micro Devices fell 3.4% and Adobe dropped 2%.

Shares of manufacturers also declined. Raytheon and United Technologies, which announced a big merger Sunday, fell sharply and other defense companies dropped as well.

H&R Block rose 1.7% after the tax preparation company said fiscal fourth profit topped expectations.

The S&P 500 index slipped 3 points, or 0.1%, to 2,883. Still, the benchmark index is up nearly 5% so far this month. The Nasdaq dropped 14 points, or 0.2%, to 7,808.

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9:35 a.m.

Stocks are rising early Tuesday as Wall Street continues to thrive in June.

The S&P 500 index rose 24 points, or 0.9%, to 2,911. The benchmark index is up nearly 5% so far this month after a 6.6% decline in May.

Technology stocks rose. Broadcom shares gained 2% after the chip maker reached a deal to supply components to Apple.

Tesla gained 2.3% ahead of its annual shareholder meeting, where CEO Elon Musk is expected to be asked about the company’s stock price, which is down 36% this year.

Heavy equipment maker Caterpillar rose 2.4% as mining stocks rallied.

The Dow Jones industrials rose 173 points, or 0.7%, to 26,236. The Nasdaq gained 82 points, or 1.1%, to 7,905.