Markets Right Now: Dividend stocks lead US indexes higher

By The Associated Press Markets Associated Press

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

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4:00 p.m.

Utilities led U.S. stocks mostly higher as falling bond yields made high-dividend companies more attractive to investors seeking income.

Phone companies and banks also did well. Verizon rose 0.8 percent and Wells Fargo gained 0.9 percent, more than the rest of the market.

Other sectors ended mostly higher but broad market indexes were mixed. Technology companies fell the most after giving back gains from an early rally.

Google's parent company, Alphabet, fell 1.4 percent.

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The Standard & Poor's 500 index rose less than 1 point to 2,439.

The Dow Jones industrial average climbed 14 points, or 0.1 percent, to 21,409. The Nasdaq composite fell 18 points, or 0.3 percent, to 6,247.

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11:45 a.m.

U.S. stocks are mostly higher in midday trading, but the market was held back by a downturn in technology companies.

High-dividend stocks like utilities and phone companies posted the biggest gains Monday as bond yields fell, making those stocks more attractive to investors seeking income.

Exelon climbed 2.2 percent and Verizon rose 1 percent.

Technology stocks gave up an early rally and were lower at midday. Google's parent company, Alphabet, fell 0.8 percent.

The Standard & Poor's 500 index rose 4 points, or 0.2 percent, to 2,443.

The Dow Jones industrial average climbed 50 points, or 0.2 percent, to 21,444. The Nasdaq composite fell 12 points, or 0.2 percent, to 6,253.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.12 percent.

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9:35 a.m.

Technology and consumer-focused companies are leading stocks higher in early trading on Wall Street.

Apple rose 1 percent in early trading Monday while Facebook rose 0.8 percent.

European markets were also higher following a strong German economic survey that reinforced hopes that the region's recovery is gaining momentum.

The Standard & Poor's 500 index rose 8 points, or 0.4 percent, to 2,447.

The Dow Jones industrial average climbed 77 points, or 0.4 percent, to 21,468. The Nasdaq gained 33 points, or 0.5 percent, to 6,299.