Markets Right Now: Shares opening higher on Wall Street

Markets Associated Press

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

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9:35 a.m.

Stocks are opening higher on Wall Street Tuesday, with shares of banks and other financial firms leading the Dow Jones industrial average toward fresh highs. Oil and other energy companies are also stronger.

The yield on the 10-year Treasury climbed, helping lift financial shares.

Oil prices were also higher, lifting energy companies.

Retailer Fred's rose 56 percent after agreeing to buy 865 Rite Aid stores for $950 million. General Mills fell 3 percent after it cut its sales outlook for the rest of the year.

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The Dow Jones industrial average gained 78 points, or 0.4 percent, to 19,963.

The Standard & Poor's 500 index rose 8 points or 0.3 percent to 2,270. The Nasdaq composite gained 23 points or 0.4 percent to 5,481.