Markets Right Now: Late rally sends US stock indexes higher - InfoNews

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Markets Right Now: Late rally sends US stock indexes higher

Gregory Rowe, right, speaks on the floor of the New York Stock Exchange while waiting for Spotify's IPO, Tuesday, April 3, 2018. Spotify Inc. will make its stock market debut Tuesday, casting a spotlight on its early lead in music streaming. (AP Photo/Richard Drew)
April 03, 2018 - 1:13 PM

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

4 p.m.

Stocks moved sharply higher in the last hour of trading, allowing the market to claw back a good part of the ground it lost a day earlier.

Indexes had spent most of Tuesday wobbling between gains and losses.

Technology companies again drove much of the gains. Intel, Microsoft and Apple all rose. Ford and General Motors also climbed.

Banks rose in tandem with interest rates, and health care companies also rallied.

The S&P 500 rose 32 points, or 1.3 per cent, to 2,614.

The Dow Jones industrial average climbed 389 points, or 1.6 per cent, to 24,033. It fell 458 a day earlier.

The Nasdaq composite increased 71 points, or 1 per cent, to 6,941.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.79 per cent.

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11:45 a.m.

Stocks shook off a rocky start and are solidy higher in midday trading, led by gains in banks as interest rates move higher.

State Street rose 1.2 per cent Tuesday. Consumer products makers and health care companies also rose. Coca-Cola climbed 1.8 per cent and Johnson & Johnson added 2 per cent.

Ford and General Motors also climbed.

Media conglomerate Viacom sank 4 per cent following reports that sibling company CBS wanted to buy it for below its current market value. CBS rose 2.5 per cent.

The S&P 500 rose 10 points, or 0.4 per cent, to 2,592.

The Dow Jones industrial average climbed 130 points, or 0.5 per cent, to 23,775. The Nasdaq composite increased 18 points, or 0.2 per cent, to 6,887.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.78 per cent.

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9:35 a.m.

Stocks are opening higher on Wall Street as the market claws back some of the ground it lost in a plunge the day before.

Technology stocks and retailers, which bore the brunt of the selling a day earlier, posted solid gains in early trading Tuesday.

Microsoft rose 1 per cent and Amazon climbed 1.3 per cent.

Media conglomerate Viacom sank 4 per cent following reports that sister company CBS wanted to buy it for below its current market value. CBS rose 1 per cent.

The S&P 500 rose 10 points, or 0.4 per cent, to 2,592.

The Dow Jones industrial average climbed 114 points, or 0.5 per cent, to 23,742. The Nasdaq composite increased 43 points, or 0.6 per cent, to 6,915.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.76 per cent.

News from © The Associated Press, 2018
The Associated Press

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