NEW YORK — The latest on developments in financial markets (All times local):
An early gain for stocks on the first trading day of 2017 was mostly gone by midday.
Phone companies remained higher Tuesday, but utilities and real estate stocks fell as interest rates climbed.
Verizon rose 2
The Dow gained 46 points, or 0.2
The Standard & Poor's 500 index climbed 10 points, or 0.5
Bond prices fell. The yield on the 10-year Treasury note rose to 2.47
The stock market opened the year on a strong note, led by big gains in banks and energy companies.
Major U.S. indexes were broadly higher in the first few minutes of trading Tuesday as markets reopened after the New Year's Day holiday.
Marathon Petroleum rose 6
The price of crude oil rose 2
The Dow Jones industrial average rose 162 points, or 0.8
The Standard & Poor's 500 index gained 16 points, or 0.7