Markets Right Now: An early gain gone, US stocks trade mixed

NEW YORK (AP) — The latest on developments in financial markets (all times local):

11:45 a.m.

Stocks gave up an early gain and were mixed in midday trading on Wall Street.

Pharmacy benefits manager Express Scripts jumped 10 percent Thursday after it agreed to be bought by health insurer Cigna for $52 billion. Cigna slid 10 percent.

Grocery chain Kroger tumbled 12 percent after its annual profit forecast fell short of Wall Street's estimates. Newspaper publisher Tronc plunged 23 percent.

President Donald Trump is expected to announce tariffs on steel and aluminum imports later in the day.

The Standard & Poor's 500 index was up 2 points, or 0.1 percent, to 2,729.

The Dow Jones industrial average slipped 5 points to 24,797. The Nasdaq composite rose 22 points, or 0.3 percent, to 7,419.

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9:35 a.m.

U.S. stocks are opening mostly higher, with retailers and technology companies making some of the biggest gains.

Pharmacy benefits manager Express Scripts jumped 16 percent Thursday after it agreed to be bought by health insurer Cigna for $52 billion. Cigna slid 6 percent.

Grocery chain Kroger tumbled 8 percent after its annual profit forecast fell short of Wall Street's estimates.

Traders will be watching to see if President Donald Trump announces tariffs on steel and aluminum imports later in the day.

The Standard & Poor's 500 index rose 10 points, or 0.4 percent, to 2,736.

The Dow Jones industrial average climbed 130 points, or 0.5 percent, to 24,931. The Nasdaq composite rose 33 points, or 0.5 percent, to 7,430.