Markets Right Now: Stocks head for 3rd gain in a row
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are moving steadily higher in midday trading on Wall Street, putting the market on track for its third gain in a row.
Technology and health care companies powered much of the gains Wednesday. Microsoft added 1.1 percent and UnitedHealth Group climbed 2.6 percent.
Rite Aid jumped 3.5 percent after the company announced a management purge, which includes the CEO, and plans to cut 400 jobs.
The S&P 500 index rose 24 points, or 0.9 percent, to 2,815. Last week the index had its first weekly loss since January.
The Dow Jones Industrial Average rose 167 points, or 0.7 percent, to 25,722. The Nasdaq rose 69 points, or 0.9 percent, to 7,660.
Stocks are opening mostly higher on Wall Street, led by gains in health care and technology companies.
Google’s parent company Alphabet added 1.3 percent in the first few minutes of trading Wednesday. CVS Health rose 2.2 percent.
Rite Aid surged 9 percent after the company announced a management purge, which includes the CEO, and plans to cut 400 full-time positions.
The S&P 500 index rose 12 points, or 0.4 percent, to 2,803.
The Dow Jones Industrial Average rose 100 points, or 0.4 percent, to 25,657. The Nasdaq rose 36 points, or 0.5 percent, to 7,626.