Markets Right Now: Banks, retailers lead stocks higher

Stocks are closing higher on Wall Street led by gains in banks and retailers. Investors continued to shift money into U.S. government bonds.

The latest on developments in financial markets (all times local):

4 p.m.

Stocks are closing higher on Wall Street Wednesday, led by gains in banks and retailers.

Wells Fargo climbed 1.6% and Home Depot rose 1.7%.

Tiffany & Co. gained 3% after the luxury jeweler's second quarter results beat analysts' projections.

The S&P 500 rose 18 points, or 0.6%, to 2,887.

The Dow Jones Industrial Average climbed 258, or 1%, to 26,035. The Nasdaq added 29, or 0.4%, to 7,856.

The major indexes are each still down more than 3% for the month.

Investors continued to shift money into U.S. government bonds, keeping long-term bond yields below short-term ones. The so-called inversion of the U.S. yield curve is a rare phenomenon that has correctly predicted previous recessions.

The yield on the 10-year Treasury fell to 1.47% compared with 1.51% for the 2-year Treasury.

——

11:45 a.m.

Stocks are rising on Wall Street as gains for banks and health care companies offset losses in the technology sector.

Wells Fargo climbed 1.7% in midday trading Wednesday and UnitedHealth Group added 2.4%.

Investors continued to shift money into U.S. government bonds, driving long-term bond yields further below short-term ones. The so-called inversion of the U.S. yield curve is a rare phenomenon that has correctly predicted previous recessions.

Autodesk plunged 9% after the software company slashed its full-year forecasts.

The S&P 500 rose 15 points, or 0.5%, to 2,884.

The Dow Jones Industrial Average climbed 189, or 0.7%, to 25,966. The Nasdaq added 28, or 0.4%, to 7,855.

Bond prices continued to rise as investors sought safety. The yield on the 10-year Treasury fell to 1.46%.

———

9:35 a.m.

Stocks are opening broadly lower on Wall Street, extending the markets losses, as technology and industrial companies move lower.

Autodesk plunged 13.6% in early trading Wednesday after the software company slashed its full-year forecasts.

European markets fell and the British pound weakened against other currencies after British Prime Minister Boris Johnson moved to suspend Parliament, which would hamper lawmakers' efforts to stop a no-deal departure from the European Union.

The S&P 500 fell 11 points, or 0.4%, to 2,857.

The Dow Jones Industrial Average lost 102, or 0.4%, to 25,670. The Nasdaq fell 55, or 0.7%, to 7,770.

Bond prices continued to rise as investors sought safety. The yield on the 10-year Treasury fell to 1.45%.