NEW YORK, N.Y. – The latest on developments in global financial markets (all times local):
Stocks are opening higher on Wall Street following solid gains in Europe and some encouraging reports on the U.S. economy.
PepsiCo gained 2 per cent early Thursday after reporting better earnings than analysts were expecting. The soda giant said snack sales were strong and people were buying more healthy drink options.
Bond prices, gold and utilities stocks fell as investors shifted out of safe-play assets they have been favouring in recent weeks following Britain’s historic vote to leave the European Union.
The Dow Jones industrial average climbed 40 points, or 0.2 per cent, to 17,960.
The Standard & Poor’s 500 index gained 6 points, or 0.3 per cent, to 2,105. The Nasdaq composite rose 20 points, or 0.4 per cent, to 4,879.
The yield on the 10-year Treasury note rose to 1.41 per cent.