Markets Right Now: Dow marks another record, nears 22,000

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.

Stocks posted solid gains on Wall Street, sending the Dow Jones industrial average to another high and nearer to the 22,000-point milestone.

Banks and technology companies rose more than the rest of the market Tuesday. Goldman Sachs and Apple had some of the biggest gains in the Dow.

Sprint soared 11 percent after reporting solid quarterly results and saying it was optimistic about striking a deal to combine with another company.

Under Armour dropped 8.6 percent after the athletic apparel company lowered its revenue projections and said it will cut jobs.

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The Standard & Poor's 500 index rose 6 points, or 0.2 percent, to 2,476.

The Dow Jones industrial average climbed 72 points, or 0.3 percent, to 21,963. The Nasdaq composite increased 14 points, or 0.2 percent, to 6,362.

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11:45 a.m.

U.S. stocks are rising, with banks posting some of the biggest gains.

JPMorgan Chase and Bank of America each rose 1.2 percent in midday trading Tuesday.

Royal Caribbean Cruises is up 3.6 percent after it raised its annual profit forecast following a strong quarter.

Under Armour is down 7.3 percent after the athletic apparel company lowered its revenue projections and said it will cut jobs and expenses. Oil prices turned lower.

The Standard & Poor's 500 index rose 3 points, or 0.2 percent, to 2,474.

The Dow Jones industrial average climbed 80 points, or 0.4 percent, to 21,971. The Dow is trading at another record high and is approaching 22,000 points for the first time.

The Nasdaq composite increased 9 points, or 0.2 percent, to 6,357.

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9:35 a.m.

More solid earnings reports from U.S. companies are sending stocks higher in early trading on Wall Street.

Banks, technology companies and retailers were among the early winners on Tuesday. Bank of America gained 1 percent.

Royal Caribbean Cruises jumped 5 percent after reporting solid earnings, and Archer-Daniels-Midland gained 3 percent after its own results came in ahead of forecasts.

The Standard & Poor's 500 index rose 4 points, or 0.2 percent, to 2,474.

The Dow Jones industrial average climbed 83 points, or 0.3 percent, to 21,976. The Nasdaq composite increased 14 points, or 0.2 percent, to 6,362.