Markets Right Now: Stocks rebound, led by tech companies
NEW YORK (AP) — The latest on developments in financial markets (all times local):
4:00 p.m.
Stocks turned broadly lower on Wall Street Tuesday as investors shifted money into bonds, sending yields to their lowest level in nearly two years.
The Dow Jones Industrial Average fell 237 points, or 0.9%, to 25,347. The Dow had risen as much as 131 points earlier.
The market is coming off its third straight weekly loss. U.S. markets were closed Monday for the Memorial Day holiday.
Bond prices rose and the yield on the 10 year Treasury dropped to 2.26%, its lowest level since September 2017. Falling yields are typically a sign that investors feel jittery about long-term economic prospects.
The S&P 500 lost 23 points, or 0.8%, to 2,802. The Nasdaq fell 29 points, or 0.4%, to 7,607.
Total System Services rose 4.8% after agreeing to be acquired by rival payment processer Global Payments.
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12:15 p.m.
Investors appear to have turned cautious Tuesday after stocks opened with solid gains.
Around midday, the Dow Jones Industrial Average was up 25 points, or 0.1%. The Dow gained as much as 131 points earlier.
The market is coming off its third straight weekly loss. U.S. markets were closed Monday for the Memorial Day holiday.
Bond prices rose and the yield on the 10 year Treasury dropped to 2.27%, its lowest level since October 2017. Falling yields are typically a sign that investors feel jittery about long-term economic prospects.
The S&P 500 rose 4 points, or 0.2%, to 2,830. The Nasdaq gained 35 points, or 0.5%, to 7,672, led by gains in technology shares.
Total System Services rose 5.8% after agreeing to be acquired by rival payment processer Global Payments.
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9:35 a.m.
Stocks are rising at the open on Wall Street Tuesday, led by technology and consumer-focused companies.
Total System Services rose 4.6% after agreeing to be acquired by rival payment processing company Global Payments for $21.5 billion.
Beyond Meat gained 8.1%. An analyst at JPMorgan called the growth opportunity for the maker of plant-based burgers and sausages “extraordinary.”
The S&P 500 added 10 points, or 0.4%, to 2,836. The broad market index has fallen three straight weeks.
The Dow rose 105 points, or 0.4%, to 25,691.
The Nasdaq gained 44 points, or 0.6%, to 7,681.
Bonds rose. The yield on the 10 year Treasury fell to 2.29%, close to its lowest level since October 2017.
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