Markets Right Now: Banks lead an early gain for US stocks

NEW YORK (AP) – The latest on developments in financial markets (All times local):

9:35 a.m.

Banks and energy stocks are leading U.S. indexes higher in early trading on Wall Street.

Comerica gained 2.1 percent shortly after the opening bell Friday, while Chesapeake Energy increased 2 percent.

The pound slumped after Britain’s ruling Conservatives lost their majority in Parliament.

The Standard & Poor’s 500 index rose 3 points, or 0.2 percent, to 2,437.

The Dow Jones industrial average rose 45 points, or 0.2 percent, to 21,227. The Nasdaq composite was little changed at 6,320.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.22 percent.