Markets Right Now: Technology leads more gains for US stocks

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

4 p.m.

Stocks are closing solidly higher on Wall Street for the second day in a row, extending the market’s gains for the week.

Technology companies, which have continued to lead the market this year, contributed the most to the rally.

Apple rose 1.4 percent and Facebook climbed 1.6 percent. Google’s parent company, Alphabet, climbed 1.5 percent.

CenturyLink jumped 7.5 percent after reporting earnings that were much higher than analysts were expecting.

The S&P 500 index rose 25 points, or 0.9 percent, to 2,723.

The Dow Jones industrial average rose 196 points, or 0.8 percent, to 24,739. The gain turned the Dow back to positive for the year.

The Nasdaq composite increased 65 points, or 0.9 percent, to 7,404.

Bond prices rose. The yield on the 10-year Treasury fell to 2.96 percent.

11:45 a.m.

Stocks are rising broadly in midday trading, extending solid gains from a day earlier.

Technology and health care companies led the march higher Thursday.

Micron Technology rose 2.1 percent and Qualcomm climbed 2.9 percent. Envision Healthcare rose 6.1 percent.

Telecom company CenturyLink jumped 7.6 percent after reporting earnings that were much higher than analysts were expecting.

The S&P 500 index rose 20 points, or 0.7 percent, to 2,717.

The Dow Jones industrial average rose 190 points, or 0.8 percent, to 24,732. The Nasdaq composite increased 52 points, or 0.7 percent, to 7,392.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.97 percent.

9:35 a.m.

Stocks are off to a solid start on Wall Street, building on the market’s gains from a day earlier.

Technology and health care stocks rose more than the rest of the market in early trading Thursday.

Micron Technology rose 2.5 percent and Qualcomm climbed 2.3 percent. Envision Healthcare rose 5.5 percent.

Telecom company CenturyLink soared 9 percent after reporting earnings that were much higher than analysts were expecting.

The S&P 500 index rose 10 points, or 0.4 percent, to 2,707.

The Dow Jones industrial average rose 73 points, or 0.3 percent, to 24,615. The Nasdaq composite increased 21 points, or 0.3 percent, to 7,360.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.96 percent.

This article provided by NewsEdge.