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Markets Right Now: US stocks inch higher in midday trading

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

11:45 am.

Stocks are edging higher in midday trading on Wall Street as investors pick over the latest batch of corporate earnings reports.

Stanley Black & Decker gained 5 per cent Friday after reporting results that were better than analysts were expecting. American Airlines rose 3 per cent after its own earnings beat forecasts.

Honeywell fell after cutting its sales forecast.

The Standard & Poor’s 500 index rose 5 points, or 0.3 per cent, to 2,171.

The Dow Jones industrial average gained 24 points, or 0.1 per cent, to 18,542. The Nasdaq composite increased 25 points, or 0.5 per cent, to 5,098.

Bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 1.56 per cent.

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9:35 am.

Stocks are edging lower in early trading on Wall Street after several companies delivered disappointing results for the second quarter.

Honeywell fell 5 per cent early Friday and General Electric lost 2 per cent.

Boeing dropped 2 per cent after the aircraft maker said late Thursday it would take charges totalling more than $2 billion as it reduces the value of its 787 and 747-8 programs.

The Standard & Poor’s 500 index lost 1 point to 2,164.

The Dow Jones industrial average slipped 8 points, less than 0.1 per cent, to 18,507. The Nasdaq composite declined 6 points, or 0.1 per cent, to 5,068.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.59 per cent.