Markets Right Now: Banks, tech lead early gains for stocks

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

9:35 a.m.

Stocks are moving further into record territory in early trading on Wall Street, led by more gains for banks and technology companies.

Banks were benefiting Tuesday from higher bond yields, which allow them to charge higher interest rates on loans. Wells Fargo rose 1.1 percent and Bank of America gained 1.4 percent.

Materials companies were higher, led by a 2.8 percent gain for DowDuPont, which announced some changes to its breakup plan that activist investors had been pushing for.

The Standard & Poor’s 500 index rose 6 points, or 0.3 percent, to 2,494.

The Dow Jones industrial average climbed 70 points, or 0.3 percent, to 22,126. The Nasdaq composite increased 16 points, or 0.3 percent, to 6,448.