Markets Right Now: Stocks shake off a stumble, turn higher
Posted August 8
NEW YORK — The latest on developments in financial markets (All times local):
U.S. stock indexes rebounded from an early slide and were higher in midday trading.
Banks and technology stocks were among the big gainers Tuesday, offsetting losses among health care and consumer-focused companies.
JPMorgan Chase rose 1.1 percent and Texas Instruments rose 1.6 percent.
Luxury handbag and clothing retailer Michael Kors soared 21 percent after reporting a big earnings beat.
The Standard & Poor's 500 index rose 7 points, or 0.3 percent, to 2,488.
The Dow Jones industrial average gained 49 points, or 0.2 percent, to 22,168. The Nasdaq composite climbed 30 points, or 0.5 percent, to 6,414.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.29 percent.
Stocks are opening slightly lower on Wall Street, a day after the market closed at its latest record high.
Health care and technology companies had some of the biggest declines in early trading Tuesday. Henry Schein lost 5.1 percent and Microsoft lost 0.6 percent.
The Standard & Poor's 500 index fell 4 points, or 0.2 percent, to 2,476.
The Dow Jones industrial average lost 39 points, or 0.2 percent, to 22,079. The Nasdaq composite gave up 13 points, or 0.2 percent, to 6,369.
Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.26 percent.