Markets Right Now: Strong earnings send US stocks higher

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

9:35 a.m.

Stocks are opening modestly higher on Wall Street after several companies reported encouraging quarterly results.

Morgan Stanley, railroad operator CSX and industrial conglomerate Textron were all solidly higher in early trading Wednesday after their results beat analysts’ forecasts.

Best Buy climbed 3 per cent after announcing a partnership to sell Fire TVs and smart TV’s through Amazon.

The S&P 500 index rose 6 points, or 0.2 per cent, to 2,712.

The Dow Jones industrial average gained 20 points, or 0.1 per cent, to 24,804. The Nasdaq composite climbed 10 points, or 0.2 per cent, to 7,290.

Bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 2.83 per cent.