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Markets Right Now: Automakers, homebuilders lead stock gains
NEW YORK – The latest on developments in financial markets (All times local):
9:35 a.m.
Stocks are edging higher in early trading on Wall Street as automakers and homebuilders post solid gains.
General Motors jumped 3.3 per cent in early trading Tuesday and Ford rose 1.8 per cent after both companies reported solid sales numbers for September.
Homebuilders were broadly higher after Lennar reported higher earnings and revenue than analysts were expecting.
The Standard & Poor’s 500 index 2 points, or 0.1 per cent, to 2,531.
The Dow Jones industrial average increased 31 points, or 0.1 per cent, to 22,591. The Nasdaq composite climbed 9 points, or 0.1 per cent, to 6,525.
All three indexes closed at record highs the day before.
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