Markets Right Now: Stock indexes claw back some lost ground
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are closing broadly higher on Wall Street as gains by technology companies and banks helped the market gain back almost half the ground it lost in a big sell-off the day before.
Apple and Microsoft each rose 1.9% Tuesday, and video game maker Take-Two Interactive jumped 8% after turning in strong quarterly results.
Investors were relieved to see that China had stabilized its currency, easing some of the pressure in its trade war with the U.S.
The S&P 500 rose 37 points, or 1.3%, to 2,881.
The Dow Jones Industrial Average rose 311 points, or 1.2%, to 26,029. The Nasdaq climbed 107 points, or 1.4%, to 7,833.
Bond prices rose. The yield on the 10-year Treasury fell to 1.72%.
Stocks are edging higher in midday trading on Wall Street, recouping a small amount of the losses the market sustained a day earlier.
Technology stocks, which came under heavy selling pressure the day before, led the way higher Tuesday. Adobe rose 1.3% and Microsoft climbed 1.2%.
The recovery came a day after indexes slumped 3%, their biggest losses of the year, after China let its currency weaken. Investors saw that as a dangerous escalation of the trade war between Beijing and Washington.
The S&P 500 was up 11 points, or 0.4%, at 2,856.
The Dow Jones Industrial Average rose 78 points, or 0.3%, to 25,801. The Nasdaq climbed 42 points, or 0.5%, to 7,769.
Bond prices fell. The yield on the 10-year Treasury rose to 1.74%.
Stocks are clawing back some of their losses from a day earlier as China stabilized its currency.
Technology stocks, which came under heavy selling pressure a day earlier, led the way higher early Tuesday. Apple rose 2.1% and Texas Instruments added 1.9%.
The recovery came a day after U.S. indexes slumped 3%, their biggest losses of the year, after China let its currency weaken.
The S&P 500 rose 25 points, or 0.9%, to 2,869.
The Dow Jones Industrial Average rose 203 points, or 0.8%, to 25,922. The Nasdaq climbed 100 points, or 1.3%, to 7,825.
Bond prices fell. The yield on the 10-year Treasury rose to 1.77%.