Markets Right Now: Tech, banks lead gains on US stocks
NEW YORK (AP) — The latest on developments in financial markets (All times local):
9:35 a.m.
Technology companies and banks are leading stocks higher in early trading on Wall Street.
Facebook added 1.5 percent early Wednesday as the tech sector continued to rebound. Apple and Microsoft each rose about 1 percent.
Bank stocks rose along with bond yields and as investors expect interest rates to continue to rise. That will help banks make more money by charging higher interest rates on loans. Bank of America rose 1.9 percent and JPMorgan Chase gained 1.3 percent.
The Standard & Poor's 500 index rose 10 points, or 0.4 percent, to 2,507.
The Dow Jones industrial average increased 75 points, or 0.3 percent, to 22,359.