Markets Right Now: High-dividend stocks lead markets higher
NEW YORK (AP) — The latest on developments in financial markets (All times local):
Stocks closed higher in light trading Monday as investors seeking income poured money into phone company and real estate stocks. Energy companies turned lower after strong gains over the last six weeks.
Bank stocks lagged the market as the yield on the 10-year Treasury slid to 2.54 percent, sending interest rates lower.
Walt Disney shares rose 1.3 percent after “Rogue One: A Star Wars Story” brought in an estimated $155 million in worldwide ticket sales in its first weekend.
The Dow Jones industrial average gained 40 points, or 0.2 percent, to 19,883.
The Standard & Poor’s 500 index rose 4 points or 0.2 percent to 2,263. The Nasdaq composite rose 20 points or 0.4 percent to at 5,457.
Stocks are slightly higher on Wall Street at midday as as technology and industrial companies trade higher.
Microsoft gained 2 percent and Texas Instruments rose nearly 1 percent, as companies that stand to benefit from faster economic growth found favor with investors.
The yield on the 10-year Treasury slipped, which is giving a lift to real estate investment trusts, which pay large dividends. Banks are slipping as bond yields and interest rates fall.
The Dow Jones industrial average gained 18 points, or 0.1 percent, to 19,861.
The Standard & Poor’s 500 index rose 3 points or 0.1 percent to 2,261. The Nasdaq composite rose 25 points or 0.5 percent to at 5,462.
Stocks are opening slightly higher on Wall Street, led by gains in real estate companies, which pay high dividends.
The yield on the 10-year Treasury note dipped, and the dollar held steady against other currencies after soaring the day before.
Homebuilder Lennar jumped over 2 percent after reporting strong quarterly results.
Allied World Assurance soared more than 13 percent after agreeing to be acquired by Fairfax Financial Holdings for $4.7 billion.
The Dow Jones industrial average gained 8 points, or 0.1 percent, to 19,847.
The Standard & Poor’s 500 index was flat at 2,258. The Nasdaq composite was also nearly flat at 5,438.