Markets Right Now: Tech stocks lead US indexes higher

AP News
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Posted: Dec 13, 2017 11:56 AM

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

11:45 a.m.

Stocks are moving higher in midday trading, led by gains in technology companies, which have outpaced the market all year.

Health care companies were also higher Wednesday, while banks and energy stocks lagged behind.

Western Digital rose 2.5 percent after the hard drive maker resolved a dispute with its partner Toshiba over Toshiba's plan to sell its flash memory business.

Traders were looking ahead to an announcement Wednesday afternoon on interest rates from the Federal Reserve.

The Standard & Poor's 500 index rose 6 points, or 0.2 percent, to 2,670.

The Dow Jones industrial average climbed 151 points, or 0.6 percent, to 24,656. The Nasdaq composite increased 27 points, or 0.4 percent, to 6,889.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.38 percent.

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9:35 a.m.

Stocks are opening higher on Wall Street as technology companies post solid gains.

Hard drive maker Western Digital gained 3 percent after it resolved a dispute with its partner Toshiba over Toshiba's plan to sell its flash memory business.

Finisar climbed 27 percent after Apple said it will invest $390 million in the fiber optic component supplier so it can make more lasers used in facial recognition technology.

The Standard & Poor's 500 index rose 4 points, or 0.2 percent, to 2,668.

The Dow Jones industrial average climbed 46 points, or 0.2 percent, to 24,547. The Nasdaq composite increased 27 points, or 0.4 percent, to 6,888.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.38 percent.