Markets Right Now: US stocks close solidly higher

NEW YORK (AP) " The latest on developments in global financial markets (all times local):

4:00 p.m.

U.S. stocks are closing solidly higher as traders hope the Federal Reserve will hold off on raising interest rates next week.

A Federal Reserve official said Monday she's not eager to raise interest rates too soon, a possibility that had worried investors.

Investors put money into safe-play investments like household goods makers and phone companies that pay high dividends. Technology companies also rose.

AT&T rose 2.5 percent and Procter & Gamble gained 2.3 percent.

The Dow Jones industrial average added 239 points, or 1.3 percent, to 18,325.

The Standard & Poor's 500 index rose 31 points, or 1.5 percent, to 2,159. The Nasdaq composite climbed 85 points, or 1.7 percent, to 5,211.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.67 percent.

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11:45 a.m.

U.S. stocks are higher in midday trading as the market shakes off an early stumble.

Traders were favoring safety play investments Monday such as high-dividend phone companies and household goods makers.

AT&T rose 1.4 percent and Procter & Gamble gained 1 percent.

The Dow Jones industrial average added 68 points, or 0.4 percent, to 18,154.

The Standard & Poor's 500 index rose 12 point, or 0.6 percent, to 2,139. The Nasdaq composite climbed 43 points, or 0.9 percent, to 5,169.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 1.69 percent.

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9:35 a.m.

Stocks are opening modestly lower on Wall Street, led by declines in energy companies and banks.

Oil rig operator Transocean slumped 2.3 percent in early trading Monday, one of the biggest declines in the Standard & Poor's 500 index. Energy companies fell as the price of oil took another turn lower.

Banks and other financial companies were also taking losses. MetLife fell 1.8 percent and Prudential Financial also lost 1.8 percent.

Utilities and phone companies bucked the downward trend and moved higher.

The Dow Jones industrial average fell 27 points or 0.2 percent, to 18,056.

The S&P 500 index slipped 1 point 2,126. The Nasdaq composite edged up 4 points, or 0.1 percent, to 5,130.

This story has been automatically published from the Associated Press wire which uses US spellings

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