Markets Right Now: Stocks close at highest level in a month

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

4 p.m.

U.S. stocks rallied to their highest level in more than a month after China’s government moved to inject more life into its economy by cutting taxes.

Netflix led a surge in high-tech companies Tuesday after announcing a series of price increases. The video streaming company surged 6.5 per cent.

First Republic Bank jumped 12 per cent after reporting earnings that were better than analysts were expecting.

Sherwin-Williams dropped 4.1 per cent after the maker of paints and industrial coatings said it had a weak quarter.

The S&P 500 rose 27 points, or 1.1 per cent, to 2,610.

The Dow Jones Industrial Average climbed 155 points, or 0.7 per cent, to 24,065. The Nasdaq added 117 points, or 1.7 per cent, to 7,023.

Bond prices fell. The yield on the 10-year Treasury edged up to 2.72 per cent.

___

11:45 a.m.

Stocks are higher in midday trading on Wall Street as fourth-quarter company earnings reports start to roll in.

First Republic Bank jumped 11.6 per cent Tuesday after reporting earnings that were better than analysts were expecting.

Netflix jumped 6.4 per cent after announcing higher pricing for its video-streaming plans. Other internet and technology companies also rose.

Sherwin-Williams slumped 4.9 per cent after the maker of paints and industrial coatings said it had a weak quarter.

The S&P 500 rose 20 points, or 0.8 per cent, to 2,602.

The Dow Jones Industrial Average climbed 93 points, or 0.4 per cent, to 24,000. The Nasdaq added 95 points, or 1.4 per cent, to 7,000.

The yield on the 10-year Treasury was little changed at 2.71 per cent.

___

9:35 a.m.

Stocks are inching higher in early trading on Wall Street as fourth-quarter company earnings reports start to roll in.

Delta Air Lines and First Republic Bank both rose early Tuesday after reporting results that were better than analysts were expecting. Delta climbed 2.8 per cent and First Republic gained 7.3 per cent.

Netflix jumped 4.8 per cent after announcing higher pricing for its video-streaming plans.

Sherwin-Williams slumped 5.2 per cent after the maker of paints and industrial coatings said it had a weak quarter.

The S&P 500 rose 10 points, or 0.4 per cent, to 2,593.

The Dow Jones Industrial Average edged up 35 points, or 0.2 per cent, to 23,949. The Nasdaq added 60 points, or 0.9 per cent, to 6,966.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.69 per cent.