Markets Right Now: Stocks turn higher on Wall Street

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

11:45 a.m.

Stock indexes are mostly higher as technology companies and other sectors recovered some of the sharp losses caused by last week’s rapid rise in interest rates.

Microsoft climbed 1.7 per cent in midday trading Tuesday and Apple rose 1.2 per cent.

Raw-material producers sank on worries that higher costs and weakening demand are eroding profits. PPG Industries slumped 8.6 per cent.

Papa John’s surged 8.4 per cent after the Wall Street Journal reported that activist investor Nelson Peltz was evaluating a bid for the company.

The S&P 500 rose 6 points, or 0.2 per cent, to 2,891.

The Dow Jones Industrial Average rose 20 points, or 0.1 per cent, to 26,507. The Nasdaq composite rose 44 points, or 0.6 per cent, to 7,780.

Bond prices rose. The yield on the 10-year Treasury note fell to 3.21 per cent.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street as banks and materials companies move lower.

Paint and coatings maker PPG Industries sank 8.6 per cent in early trading Tuesday after warning that higher costs and weaker demand from China would hurt its profits.

Banks were also lower. JPMorgan Chase slipped 1 per cent.

Papa John’s surged 8.2 per cent after the Wall Street Journal reported that activist investor Nelson Peltz was trying to put together a bid for the company.

The S&P 500 fell 5 points, or 0.2 per cent, to 2,879.

The Dow Jones Industrial Average lost 55 points, or 0.2 per cent, to 26,441. The Nasdaq composite was little changed at 7,740.

The yield on the 10-year Treasury note held steady at 3.22 per cent.