US stocks gain in early trading, Sirius up on Stern deal

US stocks gain in early trading, Sirius up on Stern deal


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NEW YORK (AP) — Stocks are climbing in early trading as buyers return to a market that has been mostly beaten down in recent days.

Investors were also picking up high-yield corporate bonds early Tuesday, which had been slumping over the last week.

Satellite radio operator Sirius XM Holdings jumped 3 percent after announcing that it had signed Howard Stern to another five-year deal.

3M sank 4 percent after releasing a weak earnings outlook.

The Dow Jones industrial average was up 164 points, or 0.9 percent, to 17,533 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index climbed 22 points, or 1.1 percent, to 2,044. The Nasdaq composite rose 45 points, or 0.9 percent, to 4,998.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.28 percent.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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