Markets Right Now: Stock indexes climb as tax plan proceeds

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

4 p.m.

Stocks are settling at more record highs as the Republican tax plan works its way through Congress.

Banks, retailers and small-company stocks, which would all reap outsize benefits from corporate tax cuts, rose more than the rest of the market Monday.

Wells Fargo rose 1.8 percent and Home Depot climbed 1.2 percent.

Snyder's-Lance, which makes pretzels and other snack foods, rose 7 percent after agreeing to be acquired by Campbell Soup.

The Standard & Poor's 500 index rose 14 points, or 0.5 percent, to 2,690.

The Dow Jones industrial average rose 140 points, or 0.6 percent, to 24,792. The Nasdaq composite rose 58 points, or 0.8 percent, to 6,994.

Bond prices fell. The yield on the 10-year Treasury rose to 2.39 percent.

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11:45 a.m.

Stocks are rising as the Republican tax plan moves ahead in Congress.

Banks and technology companies are making some of the biggest gains Monday. Akamai Technologies jumped 14 percent.

Snyder's-Lance, which makes pretzels and other snack foods, rose 7 percent after agreeing to be acquired by Campbell Soup.

The Standard & Poor's 500 index rose 18 points, or 0.7 percent, to 2,694.

The Dow Jones industrial average rose 185 points, or 0.8 percent, to 24,837. The Nasdaq composite rose 62 points, or 0.9 percent, to 6,999.

Bond prices fell. The yield on the 10-year Treasury rose to 2.37 percent.

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9:35 a.m.

Stocks are opening broadly higher on Wall Street as the Republican-backed tax plan moves ahead.

Banks and technology companies posted some of the biggest gains early Monday. Akamai Technologies jumped 16 percent.

Snyder's-Lance, which makes pretzels and other snack foods, rose 7 percent after agreeing to be acquired by Campbell Soup.

The Standard & Poor's 500 index rose 18 points, or 0.7 percent, to 2,694.

The Dow Jones industrials rose 220 points, or 0.9 percent, to 24,868. The Nasdaq rose 47 points, or 0.7 percent, to 6,983.