US Stocks Open Slightly Higher 11/12 09:35
Stocks are opening slightly higher on Wall Street Tuesday, led by gains in
technology and health care companies.
NEW YORK (AP) -- Stocks are opening slightly higher on Wall Street Tuesday,
led by gains in technology and health care companies.
Micron Technology rose 1.8% in early trading Tuesday, and Baxter
International climbed 1.5%.
Traders are looking ahead to speech by President Donald Trump at midday to
see if he offers any clues into how talks are going with China to resolve a
long-running trade war.
Disney rose 1.5% on the day that its streaming video service, Disney Plus,
is launching. Demand is expected to be high for the $7-a-month commercial-free
service, which will compete with the industry standard Netflix as well as other
newcomers including HBO Max and NBCUniversal's Peacock.
Rockwell Automation jumped 13.9% after reporting earnings that were far
ahead of what analysts were expecting. Homebuilder D.H. Horton also rose 2.9%
after turning in solid quarterly results.
KEEPING SCORE: The S&P 500 rose 0.4%. The Dow Jones Industrial Average rose
55 points, or 0.2%, to 27,745. The Nasdaq rose 0.4%.
The yield on the 10-year Treasury held steady at 1.93%.
COMING UP: On Wednesday the Federal Reserve's chairman, Jerome Powell, is
due to give testimony to Congress about the U.S. economy. Most investors expect
the Fed to keep interest rates on hold for now after cutting them three times
since the summer.
This week the U.S. Labor Department will also give updates on both consumer
and wholesale inflation. On Friday, economists expect a government report to
show that retail sales returned to growth in October. That would suggest robust
consumer spending is helping to compensate for weaker manufacturing due to the
OVERSEAS: European and Asian markets were broadly higher. Hong Kong's market
bounced back from a drop the day before, though protests continued Tuesday as
police and protesters battled outside university campuses. The Hang Seng index