NEW YORK (AP) — The latest on developments in financial markets (all times local):
11:45 a.m.
Stocks shook off a rocky start and are solidy higher in midday trading, led by gains in banks as interest rates move higher.
State Street rose 1.2 percent Tuesday. Consumer products makers and health care companies also rose. Coca-Cola climbed 1.8 percent and Johnson & Johnson added 2 percent.
Ford and General Motors also climbed.
Media conglomerate Viacom sank 4 percent following reports that sibling company CBS wanted to buy it for below its current market value. CBS rose 2.5 percent.
The S&P 500 rose 10 points, or 0.4 percent, to 2,592.
The Dow Jones industrial average climbed 130 points, or 0.5 percent, to 23,775.
