Markets Right Now: US stocks trading higher; IBM surges

AP News
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Posted: Oct 18, 2017 12:31 PM

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

12:15 p.m.

Stocks are trading higher led by health care companies and banks, putting major indexes on track for more records amid a raft of quarterly earnings reports.

IBM jumped 9.5 percent Wednesday after it reported stronger sales than investors expected.

Drug and infant formula maker Abbott rose 1.7 percent after its third-quarter report.

Health insurers climbed. Anthem jumped 3.3 percent after announcing a prescription benefits management deal with CVS Health.

Video game publisher Electronic Arts fell 3.6 percent after delaying an upcoming "Star Wars" title.

The Standard & Poor's 500 index rose 2.3 points or 0.1 percent to 2,561.65.

The Dow Jones industrial average rose 148 points or 0.6 percent to 23,144. The Nasdaq composite gained 4 points or 0.1 percent to 6,628.

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9:45 a.m.

Stocks are opening higher as health care companies and banks rise, putting major indexes on track for more records.

IBM jumped 8.1 percent Wednesday after it reported stronger sales than investors expected.

Drug and infant formula maker Abbott rose 1.4 percent after its third-quarter report.

Health insurers climbed. Anthem jumped 5.2 percent after announcing a prescription benefits management deal with CVS Health.

Video game publisher Electronic Arts fell 3.5 percent after delaying an upcoming "Star Wars" title.

The Standard & Poor's 500 index rose 3.5 points or 0.1 percent to 2,562.80.

The Dow Jones industrial average rose 111 points or 0.5 percent to 23,108. The Nasdaq composite gained 6.2 points or 0.1 percent to 6,630.