Markets Right Now: US stocks move higher, led by technology

AP News
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Posted: Jul 20, 2016 11:50 AM

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

11:45 a.m.

Stocks are moving higher in midday trading after several companies reported earnings that were better than investors were expecting.

Microsoft jumped 7 percent Wednesday after the company reported strong results for its cloud computing services. That helped send other technology stocks higher.

Intuitive Surgical and uniform rental company Cintas also rose sharply after their own results beat forecasts.

The Standard & Poor's 500 index rose 10 points, or 0.5 percent, to 2,174.

The Dow Jones industrial average gained 53 points, or 0.3 percent, to 18,611. The Nasdaq composite climbed 52 points, or 1 percent, to 5,088.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.59 percent.

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9:35 a.m.

Stocks are edging higher in early trading after several companies reported earnings that were better than investors were expecting.

Microsoft jumped 5 percent in the first few minutes of trading Wednesday after the company reported strong results for its cloud computing services.

Intuitive Surgical and uniform rental company Cintas also rose sharply after their own results beat forecasts.

The Standard & Poor's 500 index rose 3 points, or 0.1 percent, to 2,166.

The Dow Jones industrial average gained 14 points, or 0.1 percent, to 18,575. The Nasdaq composite climbed 22 points, or 0.5 percent, to 5,059.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.58 percent.