Markets Right Now: Tech leads US stocks broadly higher
NEW YORK (AP) — The latest on developments in financial markets (all times local):
The stock market shook off two days of sluggish trading and moved broadly higher at midday, led by gains in Apple and other big technology companies.
Apple rose 3.6 percent Thursday. The company has made several product announcements this week and has an event scheduled next Monday where presumably more announcements will be made.
Chipmakers were also rising. Micron Technology jumped 9.2 percent.
Levi Strauss soared 33 percent as the storied jeans maker went public for the second time.
Biogen plunged 27 percent after the drugmaker halted a trial of an Alzheimer’s drug.
The S&P 500 index rose 23 points, or 0.8 percent, to 2,848.
The Dow Jones Industrial Average climbed 202 points, or 0.8 percent, to 25,946. The Nasdaq rose 79 points, or 1 percent, to 7,807.
Stocks are off to a mixed start on Wall Street as gains by technology and consumer goods companies offset declines elsewhere in the market.
Apple picked up 1.9 percent in early trading Thursday.
Banks and health care companies were broadly lower.
Biogen slumped 27 percent after the drugmaker halted a trial of an Alzheimer’s drug.
The S&P 500 index was little changed at 2,824.
The Dow Jones Industrial Average edged up 10 points to 25,764. The Nasdaq rose 14 points, or 0.2 percent, to 7,745.
Bond prices rose. The yield on the 10-year Treasury fell to 2.52 percent.