Markets Right Now: Stocks mostly gain; market eyes trade
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are mostly higher at midday Thursday as investors wait for developments in U.S. trade talks with Mexico.
Energy companies and makers of household products led the gainers while manufacturers were the steepest decliners.
Occidental Petroleum rose 2.7% while Exxon gained 1.6%. Cigarette companies Altria and Philip Morris were higher.
Kansas City Southern slipped 1.7%. The railroad company gets nearly half its revenue from Mexico.
The S&P 500 index rose 3 points, or 0.1%, to 2,829. The index recorded strong gains the previous two sessions.
The Dow Jones industrials rose 47 points, or 0.2%, to 25,586. The Nasdaq lost 7 points, or 0.1%, to 7,568.
Bond prices rose. The yield on the 10 year Treasury fell to 2.09% from 2.12% Wednesday.
Stocks are slightly higher Thursday as the market watches for the latest developments in U.S. trade disputes with China and Mexico.
Technology and energy companies posted early gains while banks declined.
Tesla gained 4% on reports that the electric car maker is on pace to report a solid number of deliveries for the second quarter.
Michaels Cos. fell 10% after reporting sales at established stores that missed expectations.
Stitch Fix soared 23% after reporting a surprise quarterly profit.
The S&P 500 index rose 6 points, or 0.2%, to 2,832. The index recorded strong gains the previous two sessions.
The Dow Jones industrials rose 48 points, or 0.2%, to 25,588. The Nasdaq gained 15 points, or 0.2%, to 7,590.