Markets Right Now: Tech stocks lead US indexes higher
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Technology stocks were leading indexes higher on Wall Street after the U.S. gave Chinese telecom giant Huawei another 90 days to buy equipment from American suppliers.
Chipmakers did especially well in the early going Monday. Nvidia jumped 4.2% and Qualcomm rose 2.5%.
Stocks are coming off their third weekly loss in a row as investors try to parse conflicting signals on the U.S. economy and determine whether a recession is on the horizon.
Investors were relieved that to see long-term bond yields rising. The yield on 10-year Treasury rose to 1.61% from 1.54% late Friday.
The S&P 500 rose 34 points, or 1.2%, to 2,922.
The Dow Jones Industrial Average rose 290, or 1.1%, to 26,172. The Nasdaq rose 119 points, or 1.5%, to 8,014.