Markets Right Now: Solid gains for US stocks in early trade

By The Canadian Press
December 4, 2017 - 7:45am

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

9:35 a.m.

Stocks are opening solidly higher on Wall Street following more deal news and progress on the Republican tax overhaul plan over the weekend.

Banks rose more than the rest of the market in early trading Monday. Bank of America jumped 3.4 per cent.

Consumer-focused and industrial companies were also putting up big gains. Cable TV and entertainment company Comcast rose 3.4 per cent and Boeing rose 2.2 per cent.

Aetna rose 1.8 per cent after the health insurer agreed to be acquired by drug store operator CVS. CVS fell 3.9 per cent.

The Standard & Poor's 500 index rose 19 points, or 0.7 per cent, to 2,661.

The Dow Jones industrial average rose 224 points, or 0.9 per cent, to 24,453. The Nasdaq composite climbed 43 points, or 0.7 per cent, to 6,892.

The Associated Press

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