Markets Right Now: Stocks shake off a stumble, turn higher

Bruno Cirelli
Agosto 9, 2017

The market was higher at lunchtime but veered lower in the afternoon Tuesday.

The Dow Jones Industrial Average rose 25.61 points, or 0.12 percent, to close at 22,118.42.

Stocks are edging higher in midday trading as gains by technology and consumer-focused companies outweigh losses in the banking and energy sectors.

Shares of Alibaba soared 3.59 percent to close at 158.84 USA dollars a share on Monday, while Marriot stocks rose 1.10 percent to close at 106.17 US dollars a share. USA crude futures fell 32 cents, or 0.7%, to $49.07 a barrel on the New York Mercantile Exchange. The blue-chip index is aiming for its 11th straight daily win - its second-longest winning streak in over a year - led by a rally in Apple and bank stocks.

Oil majors Chevron and Exxon were down about 0.25 percent.

LOOKING GOOD: Michael Kors climbed 21.9 percent after the luxury handbag and apparel designer and retailer's latest quarterly results beat analysts' forecasts as sales improved.

Tyson Foods rose 4.94 percent after the No.1 US meat processor reported better-than-expected quarterly profit and sales.

Rockwell Collins, which makes communications and avionics systems, jumped 6.8 per cent on reports United Technologies is considering a bid to buy the company. Henry Schein lost 5.1 percent and Microsoft lost 0.6 percent. It is ending the session up 4.08 points or 0.16% to 2480.91.

The Standard & Poor's 500 index was unchanged at 2,476. The Nasdaq composite gave up 13 points, or 0.2 percent, to 6,369.

With the Dow, S&P and Nasdaq all topping record highs over the summer and growing by over 10 percent, some market experts are concerned about an impending pullback. The yield on the 10-year Treasury note held steady at 2.26 percent.

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