Markets Right Now: Banks, retailers lead early stock gains

The latest on developments in financial markets (All times local):

9:35 a.m.

Stocks are opening higher on Wall Street, led by gains in banks and retailers.

Target rose 2.9 per cent in early trading Friday. Banks were benefiting from higher bond yields. Bank of America rose 1 per cent.

Facebook dropped 4.3 per cent after saying it would make significant changes to user feeds that will result in fewer posts from brands.

The Standard & Poor’s 500 index climbed 5 points, or 0.2 per cent, to 2,772.

The Dow Jones industrial average gained 101 points, or 0.4 per cent, to 25,675. The Nasdaq rose 8 points, or 0.1 per cent, to 7,211.

Bond prices fell. The yield on the 10-year Treasury rose to 2.56 per cent.