Markets Right Now: S&P 500 on track for record high

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

9:35 a.m.

Stocks are opening broadly higher on Wall Street, putting the benchmark S&P 500 index on track for a record high.

Tiffany soared 28% in the early going Monday after the French luxury company LVMH, which owns Fendi and Christian Dior, offered to buy the company for $14.5 billion.

The gains came at the beginning of an unusually busy week for company earnings, economic reports and central bank meetings. The Federal Reserve makes its latest announcement on interest rate policy on Wednesday.

The S&P 500 rose 17 points, or 0.6%, to 3,039.

The Dow Jones Industrial Average added 161 points, or 0.6%, to 27,122. The Nasdaq rose 58 points, or 0.7%, to 8,302.

Bond prices fell. The yield on the 10-year Treasury rose to 1.85%.

The Associated Press