Markets Right Now: After an early wobble, stocks turn higher

By The Associated Press

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

11:45 a.m.

Stocks are higher in midday trading on Wall Street, having shaken off an early wobble.

Technology and health care companies were higher Tuesday. Chipmaker Micron rose 1.1 per cent and Johnson & Johnson climbed 3.5 per cent after reporting a strong quarter.

Netflix dropped 6.8 per cent after the streaming video company gained fewer subscribers than it had forecast in its latest quarter.

The S&P 500 index rose 7 points, or 0.3 per cent, to 2,805.

The Dow Jones Industrial Average rose 22 points, or 0.1 per cent, to 25,086. The Nasdaq composite rose 23 points, or 0.3 per cent, to 7,829.

Bond prices rose. The yield on the 10-year Treasury fell to 2.85 per cent.

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9:35 a.m.

Stocks are opening slightly lower as technology stocks give back some of their recent gains.

Intel lost 1.4 per cent early Tuesday. Netflix plunged 13 per cent after reporting subscriber growth figures that missed its own estimates. The stock is still up more than 80 per cent this year.

In other earnings news, health care giant Johnson & Johnson rose 2.8 per cent after reporting a strong quarter, thanks in part to solid earnings at its prescription drug business.

The S&P 500 index fell 6 points, or 0.2 per cent, to 2,791.

The Dow Jones Industrial Average lost 50 points, or 0.2 per cent, to 25,013. The Nasdaq composite fell 38 points, or 0.5 per cent, to 7,766.

Bond prices rose. The yield on the 10-year Treasury fell to 2.85 per cent.

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