Markets Right Now: Automakers, homebuilders lead stock gains

Markets Associated Press

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

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4:07 p.m.

Stocks are closing higher on Wall Street after another mostly quiet day of trading.

General Motors jumped 3.1 percent, and Ford gained 2.1 percent after the automakers both reported solid sales growth for September. Paychex, a payroll and human-resources provider, rose 3.6 percent after reporting stronger earnings than analysts expected.

The Standard & Poor's 500 index rose 5 points, or 0.2 percent, to 2,535.

The Dow Jones industrial average gained 84 points, or 0.4 percent, to 22,642, and the Nasdaq composite rose 15 points, or 0.2 percent, to 6,532. All three indexes closed at record highs.

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The yield on the 10-year Treasury dipped to 2.32 percent.

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12:08 p.m.

Stocks are inching higher in midday trading on Wall Street in another mostly quiet day of trading.

General Motors jumped 2.8 percent, and Ford gained 2.3 percent after the automakers both reported solid sales growth for September. Paychex, a payroll and human-resources provider, rose 4 percent after reporting stronger earnings than analysts expected.

The Standard & Poor's 500 index rose 2 points, or 0.1 percent, to 2,531.

The Dow Jones industrial average gained 77 points, or 0.3 percent, to 22,635, and the Nasdaq composite rose 5 points, or 0.1 percent, to 6,522. All three indexes closed at record highs the day before.

The yield on the 10-year Treasury dipped to 2.32 percent.

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9:35 a.m.

Stocks are edging higher in early trading on Wall Street as automakers and homebuilders post solid gains.

General Motors jumped 3.3 percent in early trading Tuesday and Ford rose 1.8 percent after both companies reported solid sales numbers for September.

Homebuilders were broadly higher after Lennar reported higher earnings and revenue than analysts were expecting.

The Standard & Poor's 500 index 2 points, or 0.1 percent, to 2,531.

The Dow Jones industrial average increased 31 points, or 0.1 percent, to 22,591. The Nasdaq composite climbed 9 points, or 0.1 percent, to 6,525.

All three indexes closed at record highs the day before.