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Markets Right Now: Banks, tech drive gains for stock indexes

Gordon Charlop Photo: AP
Gordon Charlop

March 26, 2019 03:21 PM

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

4 p.m.

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Solid gains by banks and technology companies drove stocks higher on Wall Street, erasing the market's losses from a day earlier.

Wells Fargo rose 1.9 percent Tuesday and Intel climbed 1.3 percent.

Bank were benefiting from rising bond yields, which let them charge higher rates on loans.

Bed Bath & Beyond soared 22 percent in very heavy trading after The Wall Street Journal reported that the troubled retailer is being targeted by activist investors.

The S&P 500 index rose 20 points, or 0.7 percent, to 2,818.

The Dow Jones Industrial Average rose 140 points, or 0.6 percent, to 25,657. The Nasdaq added 53 points, or 0.7 percent, to 7,691.

Bond prices fell, sending their yields higher. The yield on the 10-year Treasury rose to 2.42 percent.

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11:45 a.m.

Stocks rose broadly in midday trading on Wall Street, erasing the market's modest losses from a day earlier.

Technology companies powered the rally Tuesday, with chipmakers among the biggest gainers. Nvidia rose 2 percent.

Health care stocks also notched solid gains. Biogen climbed 4 percent.

Bed Bath & Beyond soared 26 percent after The Wall Street Journal reported that the troubled retailer is being targeted by three activist investors.

The S&P 500 index rose 18 points, or 0.7 percent, to 2,817.

The Dow Jones Industrial Average rose 146 points, or 0.6 percent, to 25,669. The Nasdaq added 52 points, or 0.7 percent, to 7,691.

Bond prices fell, sending yields slightly higher. The yield on the 10-year Treasury rose to 2.43 percent.

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9:35 a.m.

Stocks are opening broadly higher on Wall Street as technology companies and banks notch solid gains.

Apple climbed 1 percent early Tuesday a day after announcing a suite of new services to run on its devices. JPMorgan Chase added 1.3 percent.

Bed Bath & Beyond soared 25 percent in heavy trading after The Wall Street Journal reported that the troubled retailer is being targeted by three activist investors.

The S&P 500 index rose 22 points, or 0.8 percent, to 2,821.

The Dow Jones Industrial Average rose 220 points, or 0.9 percent, to 25,737. The Nasdaq added 70 points, or 0.9 percent, to 7,708.

Bond prices fell, sending yields slightly higher. The yield on the benchmark 10-year Treasury note rose to 2.44 percent.

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(Copyright 2019 by The Associated Press. All Rights Reserved.)

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