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Markets Right Now: Stocks have biggest gain since March

NEW YORK, N.Y. – The Latest on developments in financial markets (all times local):

4:00 p.m.

Stocks had their biggest gain in two months as traders were encouraged by more efforts by China to stem a slowdown in the world’s second-largest economy.

Energy companies rose more than the rest of the market Tuesday as prices for crude oil and natural gas bounced higher. Southwestern Energy jumped 7 per cent and Hess rose 6 per cent.

U.S. crude oil and natural gas futures each rose 3 per cent in New York.

Materials and industrial companies also posted solid gains. Caterpillar and General Electric each rose 2 per cent.

The Dow Jones industrial average rose 222 points, or 1.3 per cent, to 17,928. The Standard & Poor’s 500 index climbed 25 points, or 1.3 per cent, to 2,084. The Nasdaq composite index added 59 points, or 1.3 per cent, to 4,809.

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11:45 a.m.

Stocks are solidly higher in midday trading on Wall Street, led by gains in industrial and energy companies.

Boeing and General Electric each rose 2 per cent Tuesday, among the biggest gains in the Dow Jones industrial average.

News of more economic stimulus in China helped send prices for oil and gas higher, which in turned pulled up the energy sector. Chesapeake Energy rose 3 per cent and Hess rose 4 per cent.

The Dow Jones industrial average rose 184 points, or 1 per cent, to 17,890. The Standard & Poor’s 500 index climbed 19 points, or 0.9 per cent, to 2,077. The Nasdaq composite index added 36 points, or 0.8 per cent, to 4,786.

Bond prices fell. The yield on the 10-year U.S. Treasury note rose to 1.76 per cent.

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9:35 a.m.

Stocks are higher on Wall Street, led by gains in energy companies which rose along with the prices of oil and natural gas.

Chesapeake Energy rose 3 per cent early Tuesday and Hess rose 2 per cent.

Several companies gain ground on earnings and buyback news.

International Flavours and Fragrances rose 2.5 per cent early Tuesday after reporting profits that beat Wall Street analysts’ expectations, and Botox maker Allergan jumped 6 per cent after announcing a stock buyback.

The Dow Jones industrial average rose 92 points, or 0.5 per cent, to 17,800. The Standard & Poor’s 500 index climbed nine points, or 0.5 per cent, to 2,068. The Nasdaq composite index added 16 points, or 0.4 per cent, to 4,766.

Bond prices fell. The yield on the 10-year U.S. Treasury note rose to 1.76 per cent.

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11:10 a.m.

European stock markets are posting solid gains after a positive session in Asia in the wake of Chinese inflation data that eased worries over falling prices in the world’s number 2 economy.

Mike van Dulken, head of research at Accendo Markets, says the inflation data have “gone some way to offset the market fears” that dragged markets lower Monday when soft Chinese trade data weighed on global stocks.

Germany’s DAX is up 1 per cent at 10,080 while the CAC-40 in France has risen 1.1 per cent to 4,369. The FTSE 100 index of leading British shares is 0.9 per cent higher at 6,168.

Earlier, Asian stock markets broadly advanced. Japan’s Nikkei 225 index was the strongest performer, closing 2.2 per cent higher as the dollar continued to rise against the yen. The lower currency is a potential boon to Japan’s exporters.