NEW YORK — The latest on developments in financial markets (All times local):
4:00 p.m.
Stocks are closing at all-time highs on Wall Street as the market resumed its climb after a holiday break.
The gains Tuesday were led by high-dividend companies like real estate and utility companies.
Kraft Heinz fell 1.8 per cent after withdrawing its offer to buy Unilever. Investors were hoping Kraft might buy another food or consumer products company.
J.M. Smucker gained 4.4 per cent and Oreo maker Mondelez climbed 5.8 per cent.
The Standard & Poor’s 500 index rose 14 points, or 0.6 per cent, to 2,365.
The Dow Jones industrial average gained 118 points, or 0.6 per cent, to 20,743. The Nasdaq composite rose 27 points, or 0.5 per cent, to 5,865.
Bond prices fell. The yield on the 10-year Treasury note edged up to 2.43 per cent.
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11:45 a.m.
Stocks are trading at record highs on Wall Street as the market resumed its climb after a holiday break.
Energy companies rose in midday trading Tuesday along with the price of oil. Devon Energy jumped 3.1 per cent.
Food makers were also rising more than the rest of the market. J.M. Smucker gained 4.6 per cent and Mondelez climbed 4.4 per cent.
Kraft Heinz fell 3 per cent after withdrawing its offer to buy Unilever.
The Standard & Poor’s 500 index rose 8 points, or 0.4 per cent, to 2,360.
The Dow Jones industrial average gained 68 points, or 0.3 per cent, to 20,692. The Nasdaq composite rose 14 points, or 0.3 per cent, to 5,853.
Overseas markets were mostly higher.
The yield on the 10-year Treasury note held steady at 2.42 per cent.
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9:35 a.m.
Stocks are opening higher on Wall Street as investors return from the holiday weekend in a buying mood.
Energy companies and banks posted some of the biggest gains in early trading Tuesday. Hess rose 2 per cent and Northern Trust rose 1 per cent.
The gains sent indexes further into record territory. U.S. markets were closed Monday for Presidents Day.
Several companies were rising after reporting better results than analysts expected. Wal-Mart jumped 2.6 per cent and Home Depot rose 1 per cent.
The Standard & Poor’s 500 index rose 7 points, or 0.3 per cent, to 2,358.
The Dow Jones industrial average gained 71 points, or 0.4 per cent, to 20,699. The Nasdaq composite rose 18 points, or 0.3 per cent, to 5,856.
The Associated Press
