Stocks Edge Higher Early Tuesday
(AP) -- U.S. stocks edged higher in early trading Tuesday, adding to big gains from a day earlier. Gains by technology and energy companies outweighed losses in health care and industrial stocks. Investors had their eye on the latest company earnings and deal news.
KEEPING SCORE: The Standard & Poor's 500 index rose 7 points, or 0.3 percent, to 2,666 as of 10 a.m. Eastern Time. The Dow Jones industrial average gained 87 points, or 0.4 percent, to 24,289. It jumped 669 points a day earlier. The Nasdaq added 29 points, or 0.4 percent, to 7,250. The Russell 2000 index of smaller-company stocks was little changed at 1,543.
The indexes were adding to big gains Monday, when investors grew increasingly confident that a trade war between the U.S. and China could be averted.
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TECH LOVE: Technology companies, which were big decliners last week and led Monday's market rally, continued to climb Tuesday. Microsoft rose 61 cents, or 0.7 percent, to $94.39.
PHARMA DEAL: U.S.-listed shares of British drugmaker GlaxoSmithKline rose 3.5 percent after the company agreed to buy out its Swiss partner Novartis in their consumer health joint venture for $13 billion in cash. GlaxoSmithKline gained $1.30 to $38.73.
GOOD QUARTER: Red Hat shares climbed 3.9 percent after the software company reported strong fourth-quarter results. The stock added $5.91 to $159.
ENERGY: Benchmark U.S. crude was little changed at $65.56 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 15 cents to $69.67.
BOND YIELDS: Bond prices rose. The yield on the 10-year Treasury fell to 2.83 percent from 2.85 percent late Monday.
CURRENCIES: The dollar rose to 105.73 yen from 105.22 yen on Monday. The euro fell to $1.2384 from $1.2455.
MARKETS OVERSEAS: In Europe, Germany's DAX rose 1.7 percent, while France's CAC 40 gained 1.2 percent. The FTSE 100 index of leading British shares was 2.1 percent higher. In Asia, Japan's benchmark Nikkei 225 gained 2.7 percent. Australia's S&P/ASX 200 added 0.7 percent. South Korea's Kospi rose 0.6 percent. Hong Kong's Hang Seng added 0.8 percent.
(BE)