Markets Right Now: Stocks post modest gains on Wall Street

Posted on Tuesday, April 16th, 2019 By The Associated Press

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

4 p.m.

Stocks edged higher on Wall Street, erasing the market's modest losses from a day earlier.

Banks and technology companies rose the most, while health care stocks closed broadly lower.

Citigroup rose 2.9% and JPMorgan Chase climbed 1.1%, but UnitedHealth Group sank 4%.

Chipmaker Qualcomm soared 23% in heavy trading after announcing that it had settled its longstanding legal dispute with Apple.

The S&P 500 index edged up 1 point, or 0.1%, to 2,907.

The Dow Jones Industrial Average added 67 points, or 0.3%, to 26,452. The Nasdaq rose 24 points, or 0.3%, to 8,000.

Bond prices fell. The yield on the 10-year Treasury rose to 2.59%.

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11:45 a.m.

Stocks are higher on Wall Street in midday trading, erasing the market's modest losses from a day earlier.

Gains in financial and technology stocks outweigh losses elsewhere in the market Tuesday.

Health care stocks are lagging the most as traders weigh quarterly earnings from Johnson & Johnson.

Investors are looking to corporate earnings reports for clues on the health of the global economy.

The rebound follows gains in overseas markets .

The S&P 500 index rose 3 points, or 0.1%, to 2,908.

The Dow Jones Industrial Average rose 55 points, or 0.2%, to 26,441. The Nasdaq rose 25 points, or 0.3%, to 8,001.

Bond prices fell. The yield on the 10-year Treasury rose to 2.59%.

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9:35 a.m.

Health care companies are leading stocks broadly higher in early trading on Wall Street.

UnitedHealth Group, the nation's largest health insurance company, rose 1.3% early Tuesday after beating first-quarter earnings forecasts and raising its estimates for the full year.

Other health care sector companies also rose. Abbot Laboratories rose 1.5% and Johnson & Johnson added 2.5%.

The S&P 500 index rose 8 points, or 0.3%, to 2,914.

The Dow Jones Industrial Average rose 110 points, or 0.4%, to 26,492. The Nasdaq rose 28 points, or 0.4%, to 8,004.

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