Markets Right Now: Solid earnings send US stocks higher

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

11:45 a.m.

Stocks are solidly higher on Wall Street at midday after several companies released encouraging earnings reports.

Oreo maker Mondelez International climbed 3.8 percent Tuesday, and athletic clothing maker Under Armour soared 25 percent. American Tower jumped 5.4 percent.

General Electric plunged 8 percent to its lowest level since early 2009 after slashing its dividend and disclosing a criminal probe into its accounting.

The S&P 500 index rose 21 points, or 0.8 percent to 2,661.

The Dow Jones Industrial Average climbed 196 points, or 0.8 percent, to 24,636. The Nasdaq composite added 68 points, or 1 percent, to 7,118.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.10 percent.

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9:35 a.m.

Stocks are opening mostly higher on Wall Street following some encouraging results from U.S. companies.

Giant food maker Mondelez International, which makes Oreo cookies and other products, rose 3 percent in early trading Tuesday. Under Armour soared 23 percent.

General Electric dropped 2 percent after cutting its dividend and announcing another big restructuring.

The S&P 500 index rose 2 points, or 0.1 percent to 2,643.

The Dow Jones Industrial Average climbed 29 points, or 0.1 percent, to 24,463. The Nasdaq composite fell 18 points, or 0.3 percent, to 7,033.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.11 percent.

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