Markets Right Now: US stocks open broadly higher

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

9:35 a.m.

Stocks are opening broadly higher on Wall Street as the U.S. and China make more progress on defusing their trade tensions.

Automakers rose early Tuesday after China lowered tariffs on autos. Fiat Chrysler gained 2.1 percent and General Motors rose 1.7 percent. Tata Motors of India rose 3.1 percent.

Lowe’s rose 2.7 percent after announcing that it was hiring the CEO of J.C. Penney, Marvin Ellison, to lead the company. J.C. Penney slumped 7.2 percent.

The S&P 500 index rose 8 points, or 0.3 percent, to 2,741.

The Dow Jones industrial average climbed 32 points, or 0.1 percent, to 25,045. The Nasdaq composite increased 33 points, or 0.5 percent, to 7,427.

Bond prices didn’t move much. The yield on the 10-year Treasury held steady at 3.06 percent.

This article provided by NewsEdge.