Markets Right Now: US stocks climb following a 2-day rout

NEW YORK (AP) — The latest on developments in financial markets (all times local):

11:45 a.m.

Stocks are clawing higher on Wall Street following two days of steep losses that wiped out the market’s gains for the year.

Major technology companies including Apple and Microsoft rose Wednesday, and crude oil prices climbed 3.8 percent a day after sinking to their lowest level in a year.

Foot Locker soared 15.2 percent after turning in solid quarterly results. Software maker Autodesk climbed 8.7 percent.

Safe-play stocks like utilities lagged the market.

The S&P 500 index rose 25 points, or 1 percent, to 2,667.

The Dow Jones Industrial Average rose 136 points, or 0.6 percent, to 24,604. The Nasdaq composite rose 105 points, or 1.5 percent, to 7,015.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.08 percent.

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9:35 a.m.

Stocks are opening higher on Wall Street as big technology companies like Apple claw back some of the ground they lost in a rout over the past two days.

Apple rose 1.5 percent in early trading Wednesday and Amazon recovered 3 percent. Both are still down sharply from the highs they reached earlier in the fall.

Foot Locker soared 16.6 percent after turning in solid quarterly results.

Safe-play stocks like utilities lagged the market.

The S&P 500 index rose 15 points, or 0.6 percent, to 2,657.

The Dow Jones Industrial Average rose 119 points, or 0.5 percent, to 24,585. The Nasdaq composite rose 80 points, or 1.1 percent, to 6,988.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.07 percent.

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