Markets Right Now: Stocks climb again, turn higher for week
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks rose on Wall Street for the third day in a row, erasing the big plunge they took on Monday on worries about the worsening trade fight between China and the U.S.
Banks reversed course Thursday and helped lead the broad gains. Bank of America added 1.7% and Citigroup added 1.9%.
Technology stocks were also big gainers. Microsoft rose 2.6%.
The steady gains mark a turnaround from Monday, when stocks took a nosedive after Beijing issued retaliatory tariffs on U.S. goods.
The S&P 500 added 37 points, or 1.3%, to 2,888.
The Dow Jones Industrial Average rose 283 points, or 1.1%, to 25,931. The Nasdaq gained 114 points, or 1.5%, to 7,936.
Bond prices fell. The yield on the 10 year Treasury rose to 2.40%
Stocks are rising early on Wall Street, with investors buoyed by better than expected quarterly results from Walmart and Cisco Systems.
Walmart shares rose 3.2% Thursday while Cisco gained 4.1%. Both companies are included in the Dow Jones Industrial Average.
Chipmakers showed early weakness. Qualcomm dropped 3.6% while Qorvo slipped 6.1%. Applied Materials and Nvidia report earnings after the close.
The S&P 500 index added 15 points, or 0.6%, to 2,866.
The Dow rose 130 points, or 0.5%, to 25,781. The Nasdaq gained 40 points, or 0.5%, to 7,863.
Bond prices fell. The yield on the 10 year Treasury rose to 2.41%