Markets Right Now: Tech leads a broad rally on Wall Street
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Technology companies led a broad rally in U.S. stocks, erasing much of the market’s losses from a day earlier.
Traders pivoted to riskier holdings Wednesday as encouraging developments overseas helped alleviate anxiety over the global economy.
Lawmakers in Britain were seeking a less chaotic exit from the European Union and political tensions in Hong Kong eased.
Apple rose 1.7% and Intel gained 4.1%.
Banks also rose. Bank of America climbed 1.6%.
The S&P 500 rose 31 points, or 1.1%, to 2,937.
The Dow Jones Industrial Average climbed 237 points, or 0.9%, to 26,355. The Nasdaq rose 102, or 1.3%, to 7,976.
The yield on the 10-year Treasury edged up to 1.47%.
Stocks are broadly higher at midday Wednesday, led by gains in Apple and other technology stocks.
Apple rose 1.3% and Intel gained 3.2%. Banks also showed strength as JPMorgan and Bank of America rose more than 1%.
Wall Street’s advance follows big gains in Asia as Hong Kong’s government withdrew a controversial extradition law that set off three months of protests there.
The S&P 500 rose 26 points, or 0.9%, to 2,932.
The Dow Jones Industrial Average climbed 214 points, or 0.8%, to 26,332. The Nasdaq rose 81, or 1%, to 7,955.
Bond prices fell. The yield on the 10-year Treasury note rose to 1.47%.
Stocks are opening higher on Wall Street following big gains in Asia as Hong Kong’s government withdrew a controversial extradition law that set off three months of protests there.
Technology and industrial companies were among the biggest winners in early trading Wednesday. Texas Instruments rose 2.3% and United Technologies rose 1.7%.
The S&P 500 rose 21 points, or 0.7%, to 2,928.
The Dow Jones Industrial Average climbed 196, or 0.7%, to 26,316. The Nasdaq rose 73, or 0.9%, to 7,947.
Hong Kong’s benchmark stock index, the Hang Seng, soared 3.9%.
Bond prices fell. The yield on the 10-year Treasury note rose to 1.49%.