Markets Right Now: Solid gains for stocks in early trading
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are broadly higher on Wall Street in early trading as banks and media companies move higher.
JPMorgan Chase jumped 3.5% early Friday after reporting a solid increase in earnings, and Disney soared 10.5% after unveiling a new video streaming service to go up against Netflix. Netflix was off 3.1%.
Chevron sank 4.6% after announcing a deal to buy Anadarko Petroleum for $33 billion. Anadarko skyrocketed 32.5% higher.
The S&P 500 index rose 18 points, or 0.6%, to 2,906.
The Dow Jones Industrial Average rose 256 points, or 1%, to 26,410. The Nasdaq rose 38 points, or 0.5%, to 7,985.
Bond prices fell sharply, sending yields higher. The yield on the benchmark 10-year Treasury rose to 2.55% from 2.50% late Thursday.