Markets Right Now: US stocks are mostly higher at midday


Rapid gains in technology stocks have already powered the Nasdaq back to its record levels. Disney lost 1.4 percent. Wall Street stocks advanced early today, keeping positive momentum from last week's strong jobs report ahead of key data releases on USA inflation and retail sales.

The Dow Jones Industrial Average dropped 124 points, or 0.5%, to 25211. The S&P 500 fell 17.71 points, or 0.64%, to 2,765.31. The fund purchased 20,550 shares of the exchange traded fund's stock, valued at approximately $5,084,000.

Stocks are opening slightly higher on Wall Street, led by gains in retailers and technology companies.

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Industrials (-1.2%) was easily the weakest sector on the day, as investors anxious that "a mistake in trade policy could be as big as a mistake in monetary policy", according to Art Hogan, chief market strategist at B. Riley FBR.

Gains in Apple, Amazon and chipmakers Broadcom and Micron Technology drove the S&P 500 higher. SPDR Dow Jones Industrial Average ETF makes up approximately 1.3% of Centaurus Financial Inc.'s investment portfolio, making the stock its 12th biggest position. Futures for the Nasdaq 100 index rose 40.25 points to 7,164.75.

Stocks are opening higher on Wall Street and bond yields are falling as investors are relieved to see that inflation remained in check last month.

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Chipmaker Qualcomm slumped 3.3 percent after the White House blocked a hostile bid from Broadcom to take over the company, citing national security concerns.

The broad-based S&P 500 added 0.2 per cent at 2,792.63, while the tech-rich Nasdaq Composite Index gained 0.3 per cent to 7,585.93.

Smith Moore & CO. boosted its stake in SPDR Dow Jones REIT ETF (NYSEARCA:RWR) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC).

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The Dow Jones industrial average climbed 116 points, or 0.5 percent, to 25,294.