Markets Right Now: Stocks Gain As Bond Yields Ease Further
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are climbing again as markets continue to claw back from a sharp tumble last month.
As of Monday the benchmark Standard & Poor's 500 index has regained more than half its 10.2 percent loss since setting its record a month ago.
Treasury yields, which have been at the center of worries for stock investors, eased back from the four-year highs they set last week.
Steel companies were gaining on reports of possible tariffs on imported steel. U.S. Steel rose 2.6 percent and AK Steel rose 3.7 percent.
The S&P 500 index rose 16 points, or 0.6 percent, to 2,763.
The Dow Jones industrial average climbed 224 points, or 0.9 percent, to 25,533. The Nasdaq composite increased 46 points, or 0.6 percent, to 7,383.
Stocks are opening higher on Wall Street, extending the market's gains from late last week.
Steel companies were gaining early Monday on reports of possible tariffs on imported steel. U.S. Steel rose 3.5 percent and AK Steel rose 3.1 percent.
Investors were relieved to see that bond yields continued to retreat from the four-year highs they reached last week. The yield on the 10-year Treasury fell to 2.84 percent.
The Standard & Poor's 500 index rose 18 points, or 0.7 percent, to 2,765.
The Dow Jones industrial average climbed 218 points, or 0.9 percent, to 25,528. The Nasdaq composite increased 56 points, or 0.8 percent, to 7,394.