Markets Right Now: US stocks rise on deal to avoid shutdown - InfoNews

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Markets Right Now: US stocks rise on deal to avoid shutdown

FILE- In this Feb. 5, 2019, file photo traders Joseph Lawler, left, and James Lamb work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Tuesday, Feb. 12. (AP Photo/Richard Drew, File)
February 12, 2019 - 6:41 AM

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

9:35 a.m.

U.S. stocks are gaining in early trading after U.S. lawmakers reached a tentative deal to avoid another costly government shutdown.

The deal could help alleviate pressure on the market as the US and China head into talks to avert escalating their dispute over trade.

Major companies continue to report fourth-quarter earnings. Molson Coors fell 6 per cent as weak volume dragged down profit and revenue. Elsewhere, Coty soared after investment firm JAB Holdings offered to acquire a controlling stake in the owner of CoverGirl.

The S&P 500 gained 19 points, or 0.7 per cent, to 2,728.

The Dow Jones Industrial Average rose 199 points, or 0.8 per cent, to 25,252. The Nasdaq added 54 points, or 0.7 per cent, to 7,360.

Bond prices fell. The yield on the 10-year Treasury rose to 2.67 per cent.

News from © The Associated Press, 2019
The Associated Press

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