Markets Right Now: Tech gains leads stocks mostly higher

By The Associated Press

NEW YORK, N.Y. – The latest on developments in financial markets (all times local):

11:45 a.m.

Stocks are mostly higher in midday trading on Wall Street as gains for technology companies offset losses elsewhere in the market.

Chipmakers posted some of the biggest gains Tuesday after Qualcomm raised its bid for NXP Semiconductors. NXP jumped 6 per cent.

Walmart plunged 9 per cent, dragging other retailers down with it, after reporting a disappointing quarter and weaker online sales than investors were expecting.

The market is coming off a six-day winning streak. Trading was closed Monday for Presidents Day.

The Standard & Poor’s 500 index rose 2 points, or 0.1 per cent, to 2,734.

The Dow Jones industrial average fell 76 points, or 0.3 per cent, to 25,140. The Nasdaq rose 49 points, or 0.7 per cent, to 7,289.

Bond prices fell. The yield on the 10-year Treasury rose to 2.91 per cent.

___

9:35 a.m.

Stocks are opening broadly lower as the market pulls back after a six-day winning streak.

Walmart slumped 7 per cent in early trading Tuesday after reporting a slowdown in online sales and earnings that missed analysts’ forecasts.

Gap fell 5 per cent after saying the head of the Gap brand will leave the company.

NXP Semiconductors rose 6 per cent after Qualcomm raised its offer to buy the company.

The Standard & Poor’s 500 index fell 5 points, or 0.2 per cent, to 2,726.

The Dow Jones industrial average gave up 76 points, or 0.3 per cent, to 25,140. The Nasdaq composite slipped 1 point to 7,237.

Bond prices fell. The yield on the 10-year Treasury rose to 2.89 per cent.

Top Stories

Top Stories

Most Watched Today