Markets Right Now: Stocks turn higher on Wall Street
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stock indexes are mostly higher as technology companies and other sectors recovered some of the sharp losses caused by last week’s rapid rise in interest rates.
Microsoft climbed 1.7 percent in midday trading Tuesday and Apple rose 1.2 percent.
Raw-material producers sank on worries that higher costs and weakening demand are eroding profits. PPG Industries slumped 8.6 percent.
Papa John’s surged 8.4 percent after the Wall Street Journal reported that activist investor Nelson Peltz was evaluating a bid for the company.
The S&P 500 rose 6 points, or 0.2 percent, to 2,891.
The Dow Jones Industrial Average rose 20 points, or 0.1 percent, to 26,507. The Nasdaq composite rose 44 points, or 0.6 percent, to 7,780.
Bond prices rose. The yield on the 10-year Treasury note fell to 3.21 percent.
Stocks are opening slightly lower on Wall Street as banks and materials companies move lower.
Paint and coatings maker PPG Industries sank 8.6 percent in early trading Tuesday after warning that higher costs and weaker demand from China would hurt its profits.
Banks were also lower. JPMorgan Chase slipped 1 percent.
Papa John’s surged 8.2 percent after the Wall Street Journal reported that activist investor Nelson Peltz was trying to put together a bid for the company.
The S&P 500 fell 5 points, or 0.2 percent, to 2,879.
The Dow Jones Industrial Average lost 55 points, or 0.2 percent, to 26,441. The Nasdaq composite was little changed at 7,740.
The yield on the 10-year Treasury note held steady at 3.22 percent.