US stocks make modest gains at midday

NEW YORK (AP) — U.S. stocks are making modest gains as energy companies rise with oil prices and banks also move higher.

Automakers are also up Tuesday after China agreed to reduce auto import duties. Fiat Chrysler gained 1.7 percent.

Several industrial companies and retailers struggled. Boeing lost 1.1 percent and Home Depot fell 1.4 percent.

AutoZone fell 7.8 percent after reporting weak quarterly sales. J.C. Penney dropped 4.8 percent after its CEO left to become head of Lowe’s.

The S&P 500 index rose 3 points, or 0.1 percent, to 2,736.

The Dow Jones industrial average slipped 33 points, or 0.1 percent, to 24,979. The Nasdaq composite edged up 3 points, or 0.1 percent, to 7,397.

Bond prices fell. The yield on the 10-year Treasury rose to 3.08 percent.

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