Markets Right Now: Modest gains send stocks to more records



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

4:00 p.m.

Modest gains for stocks were enough to send major U.S. indexes to more all-time highs on Wall Street.

Solid earnings reports from several big companies including Boeing and AT&T put investors in a buying mood.

Boeing jumped 10 percent, its biggest gain in almost nine years. AT&T increased 5 percent.

U.S. Steel soared 7.2 percent after turning in solid results.

The Standard & Poor's 500 edged up a fraction of a point to 2,477.

The Dow Jones industrial average gained 97 points, or 0.5 percent, to 21,711. The Nasdaq increased 10 points, or 0.2 percent, to 6,422.

Oil prices rose. The yield on the 10-year Treasury note fell to 2.29 percent.

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11:45 a.m.

Solid earnings from Boeing, AT&T and other big companies are sending stocks higher on Wall Street.

Boeing jumped 8.7 percent in midday trading Wednesday, its biggest gain in nearly eight years, after reporting earnings that easily beat analysts' forecasts.

AT&T was up 4.5 percent after its earnings also beat forecasts. AT&T said its deal to acquire Time Warner should close by the end of the year.

The Standard & Poor's 500 rose 2 points, or 0.1 percent, to 2,479.

The Dow Jones industrial average gained 109 points, or 0.5 percent, to 21,722. The Nasdaq increased 9 points, or 0.2 percent, to 6,421.

All three are trading above the all-time highs they closed at a day earlier.

Oil prices rose. The yield on the 10-year Treasury held steady at 2.33 percent.

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9:35 a.m.

Stocks are opening higher on Wall Street as several big companies including Boeing and AT&T report solid results.

Boeing jumped 5.7 percent in early trading Wednesday and AT&T rose 4.2 percent. AT&T said it expects its acquisition of Time Warner to close by the end of the year.

U.S. Steel soared 9.8 percent after reporting higher sales. It also issued an optimistic forecast.

The Standard & Poor's 500 index rose 1 point, or 0.1 percent, to 2,478.

The Dow Jones industrial average gained 93 points, or 0.4 percent, to 21,707. The Nasdaq composite increased 15 points, or 0.2 percent, to 6,427.

The yield on the 10-year Treasury note held steady at 2.33 percent.

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The Associated Press

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