Markets Right Now: S&P 500 index marks its 6th straight gain

By The Associated Press Markets Associated Press

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

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4 p.m.

The stock market is marking its longest New Year's winning streak in eight years as major indexes continued to notch record highs.

The Standard & Poor's 500 rose for a sixth straight day Tuesday, matching the stretch of gains that rang in 2010.

In another sign of confidence, investors sold bonds, sending the yield on the 10-year Treasury to its highest level since March.

Health care companies and banks contributed most to the gains. Johnson & Johnson rose 1.6 percent and Citigroup gained 1.1 percent.

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The S&P 500 rose 3 points, or 0.1 percent, to 2,751.

The Dow Jones industrials rose 102 points, or 0.4 percent, to 25,385. The Nasdaq rose 6 points, or 0.1 percent, to 7,163.

Bond prices fell. The 10-year Treasury yield rose to 2.55 percent.

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11:45 a.m.

Stocks are moving higher on Wall Street, led by gains in banks and health care companies.

Bank of America rose 1.3 percent in midday trading Tuesday, while Johnson & Johnson jumped 2.3 percent.

Banks were benefiting from higher bond yields, which allow banks to charge higher interest rates on mortgages and other kinds of loans.

Target rose 3.5 percent after reporting strong holiday sales. Lighting maker Acuity Brands plunged 13 percent after its earnings and sales fell short of forecasts.

The Standard & Poor's 500 index rose 8 points, or 0.3 percent, to 2,756.

The Dow Jones industrial average rose 117 points, or 0.5 percent, to 25,399. The Nasdaq rose 11 points, or 0.2 percent, to 7,169.

Bond prices fell. The yield on the 10-year Treasury rose to 2.54 percent.

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9:35 a.m.

Stocks are opening higher on Wall Street, led by gains in health care and financial companies.

Johnson & Johnson was up 1.7 percent in early trading Tuesday, and MetLife rose 1.3 percent.

Target rose 3 percent after reporting strong sales over the holiday season. Lighting maker Acuity Brands dropped 10 percent after its earnings and sales fell short of forecasts.

The Standard & Poor's 500 index rose 5 points, or 0.2 percent, to 2,752.

The Dow Jones industrial average rose 63 points, or 0.2 percent, to 25,345. The Nasdaq composite rose 9 points, or 0.1 percent, to 7,167.

Bond prices fell. The yield on the 10-year Treasury rose to 2.51 percent.