Markets Right Now: Stocks end higher, erasing week’s losses
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are ending broadly higher as investors set aside concerns, for now, about the heated trade war between the U.S. and China that roiled markets earlier in the week.
The gains Thursday erased the week’s losses for the S&P 500 index. It was the third straight gain for the market following six losses in a row.
Investors snapped up technology stocks in a signal that they are more willing to take on risk. Adobe rose 3%.
The S&P 500 rose 54 points, or 1.9%, to 2,938.
The Dow Jones Industrial Average added 371 points, or 1.4%, to 26,378. The Nasdaq rose 176 points, or 2.2%, to 8,039.
Bond prices rose slightly after being lower for much of the day. The yield on the 10-year Treasury edged down to 1.71%.
Stocks are broadly higher on Wall Street at midday as investors get back in a buying mood following a day of whiplash brought on by worries about the widening trade war between the U.S. and China.
Longtime favorites including technology and communications companies were posting some of the biggest gains Thursday.
Texas Instruments rose 3% and Netflix rose 2%.
Lyft jumped 7% after raising its outlook for the year and reporting a 72% gain in revenue.
Low-risk, low-growth sectors like utilities lagged the market.
The S&P 500 rose 38 points, or 1.3%, to 2,922.
The Dow Jones Industrial Average added 255 points, or 1%, to 26,262. The Nasdaq rose 126 points, or 1.6%, to 7,990.
European markets rose.
Bond prices fell. The yield on the 10-year Treasury rose to 1.75%.
Wall Street was back in a buying mood a day after markets took another turbulent ride as investors worried about global fallout from the U.S.-China trade war.
Longtime favorites including technology and communications companies were posting the biggest gains early Thursday.
Advanced Micro Devices jumped 8.7% and Netflix rose 1.4%.
Lyft soared 8% after raising its outlook for the year and reporting a 72% gain in revenue.
The S&P 500 rose 13 points, or 0.5%, to 2,896.
The Dow Jones Industrial Average added 124 points, or 0.4%, to 26,119. The Nasdaq rose 54 points, or 0.7%, to 7,916.
European markets were broadly higher.
Bond prices fell. The yield on the 10-year Treasury rose to 1.76%.