Markets Right Now: Tech rebound sends US indexes higher

AP News
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Posted: Nov 30, 2017 12:00 PM

The latest on developments in financial markets (All times local):

11:45 a.m.

Stocks are rising on Wall Street as the technology turns higher following a steep drop a day earlier.

Banks and industrial companies were also higher in midday trading Thursday. Alliance Data Systems jumped 3 percent, JPMorgan Chase rose 1.4 percent and Union Pacific rose 2.9 percent.

Supermarket operator Kroger jumped 9.8 percent after reporting a strong quarter, and arts and crafts store Michaels soared 11.8 percent after its own results came in ahead of forecasts.

The Standard & Poor's 500 index rose 16 points, or 0.6 percent, to 2,642.

The Dow Jones industrial average gained 196 points, or 0.8 percent, to 24,136. The Nasdaq composite rose 41 points, or 0.6 percent, to 6,865.

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9:35 a.m.

Stocks are opening broadly higher on Wall Street a day after a steep drop in technology shares weighed on the market.

Banks and health care companies were among the biggest gainers early Thursday. JPMorgan Chase rose 1.1 percent and UnitedHealth climbed 1.2 percent.

Supermarket operator Kroger jumped 11.5 percent after reporting a strong quarter, and arts and crafts store Michaels soared 17.6 percent after its own results came in ahead of forecasts.

The Standard & Poor's 500 index rose 13 points, or 0.5 percent, to 2,638.

The Dow Jones industrial average gained 114 points, or 0.5 percent, to 24,056. The Nasdaq composite rose 31 points, or 0.5 percent, to 6,854.