Markets Right Now: Stocks rise as tech shares recover
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are opening higher on Wall Street Tuesday as technology companies rebound from a sell-off a day earlier.
Chipmakers rallied after the U.S. government issued a 90-day grace period on its order to restrict U.S. firms from selling to Chinese telecom gear maker Huawei. Qualcomm rose 2.1%.
Earnings from two department stores disappointed investors. J.C. Penney fell 7.8% after reporting a wider than expected quarterly loss, while Kohl’s sank 12.5% after cutting its outlook for fiscal 2020.
Home Depot shares declined 1.9% as the home improvement giant saw a key sales figure fall short of expectations.
The S&P 500 index rose 18 points, or 0.6%, to 2,858.
The Dow gained 144 points, or 0.6%, to 25,824. The Nasdaq added 73 points, or 1%, to 7,775.
The yield on the 10 year Treasury was up slightly at 2.42%.