Markets Right Now: Tech, banks lead the gains on Wall Street

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

4 p.m.

Stocks rose again on Wall Street as a wave of buying built momentum as the day went on, pushing indexes closer to their recent record highs.

Banks and technology companies did the heavy lifting Tuesday. Bank of America added 2.3% and Nvidia climbed 2.5%.

Earnings reports are getting into full swing, and several companies moved sharply higher after turning in impressive results. Hasbro rose 10% and Coca-Cola added 6.1%.

Banks were benefiting from higher bond yields, which allow them to charge higher interest rates on loans. The yield on the 10-year Treasury rose to 2.07% from 2.04% late Monday.

The S&P 500 rose 20 points, or 0.7% to 3,005.

The Dow Jones Industrial Average rose 177 points, or 0.7%, to 27,349. The Nasdaq rose 47, or 0.6%, to 8,251.

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11:45 a.m.

Stocks are moving higher on Wall Street after several major companies reported solid second quarter earnings.

Coca-Cola soared 5.7% in midday trading Tuesday after beating Wall Street’s second quarter profit forecasts. Toy maker Hasbro jumped 8.3%.

Corporate earnings are now in full swing after last week’s relatively light load of mixed results.

JPMorgan Chase, Bank of America and several other banks gained ground as bond yields rose. Higher bond yields allow banks to charge more interest on loans.

The S&P 500 index rose 5 points, or 0.2% to 2,990.

The Dow Jones Industrial Average rose 51 points, or 0.2%, to 27,223. The Nasdaq was flat at 8,204.

Bond prices fell. The yield on the 10-year Treasury rose to 2.05%.

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9:35 a.m.

Stocks are edging higher in early trading on Wall Street as consumer products companies and banks gain ground.

Coca-Cola, Hasbro and Stanley Black & Decker all rose sharply Tuesday after reporting earnings that were better than analysts were expecting.

Banks were also higher. Bank of America rose 1.3%

The S&P 500 index rose 9 points, or 0.3% to 2,994.

The Dow Jones Industrial Average rose 111 points, or 0.4%, to 27,282. The Nasdaq climbed 22 points, or 0.3%, to 8,227.

Bond prices fell. The yield on the 10-year Treasury rose to 2.06%.

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