Trader Gregory Rowe, left, works on the floor of the New York Stock Exchange, Thursday, Oct. 25, 2018. Strong results from major companies including Microsoft, Visa and Comcast are sending U.S. stocks higher Thursday morning as the market found its footing after three weeks of steep declines. (AP Photo/Richard Drew)
October 25, 2018 - 1:09 PM
NEW YORK - The latest on developments in financial markets (all times local):
4 p.m.
Strong results from major companies including Microsoft and Visa helped U.S. stocks bust out of another losing streak.
The rally wiped out most of the market's plunge from the day before, but stocks are still down sharply over the past three weeks.
Tesla soared 9.1 per cent after reporting its biggest quarterly profit.
The S&P 500 index rose 49 points, or 1.9 per cent, to 2,705.
The Dow Jones Industrial Average rose 401 points, or 1.6 per cent, to 24,984. It was up 520 earlier.
The Nasdaq composite added 209 points, or 3 per cent, to 7,318.
Bond prices fell. The yield on the 10-year Treasury note rose to 3.13 per cent.
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2:45 p.m.
Stocks are surging on Wall Street, a day after a huge rout erased the market's gains for the year. The Dow Jones Industrial Average jumped 500 points, or 2 per cent.
The Dow's big gain on Thursday erased most of its 606-point swoon from the day before, but the average is still 6.5 per cent below the all-time high it reached three weeks ago.
Strong earnings reports from Microsoft, Visa, Comcast, Ford and other companies helped drive the market higher.
Trading has turned volatile on Wall Street this month following an unusually placid summer.
The S&P 500 rose 61 points, or 2.3 per cent, to 2,717.
The Dow was up 471 points, or 1.9 per cent, to 25,050. It was up 512 minutes earlier.
The Nasdaq added 245 points, or 3.5 per cent, to 7,354.
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11:45 a.m.
Strong results from major companies including Microsoft, Visa and Comcast are sending stocks higher on Wall Street.
The gains Thursday were a respite after three weeks of extremely volatile trading marked by steep losses.
Microsoft jumped 5.4 per cent, Visa rose 2.9 per cent and Comcast climbed 3.3 per cent.
Tesla soared 8.3 per cent after reporting its biggest-ever profit, and appliance maker Whirlpool rose 5.8 per cent.
European markets also rose.
The S&P 500 index rose 43 points, or 1.6 per cent, to 2,699.
The Dow Jones Industrial Average climbed 344 points, or 1.4 per cent, to 24,928. The Nasdaq composite added 185 points, or 2.6 per cent, to 7,393. The Nasdaq has taken bigger losses than other U.S. indexes in recent weeks.
Bond prices fell. The yield on the 10-year Treasury note rose to 3.13 per cent.
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9:35 a.m.
Stocks are opening modestly higher on Wall Street a day after a sharp sell-off erased the market's gains for the year.
Big earnings gains for several U.S. companies helped encourage investors to start hitting the "buy" button again.
Microsoft jumped 4.3 per cent and Ford climbed 5.7 per cent after releasing encouraging results and forecasts.
Tesla soared 8 per cent after reporting its biggest-ever profit, and appliance maker Whirlpool rose 4.5 per cent.
European markets were mostly higher.
The S&P 500 index rose 16 points, or 0.6 per cent, to 2,672.
The Dow Jones Industrial Average climbed 104 points, or 0.4 per cent, to 24,689. The Nasdaq composite added 85 points, or 1.2 per cent, to 7,194.
Bond prices rose. The yield on the 10-year Treasury note fell to 3.12 per cent.
News from © The Associated Press, 2018