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US stocks rise for the 3rd day in a row

 In this May 13, 2019, file photo John Panin monitors stock prices at the New York Stock Exchange. Photo: AP Photo/Mark Lennihan, File
In this May 13, 2019, file photo John Panin monitors stock prices at the New York Stock Exchange.

May 16, 2019 03:18 PM

Stocks marched higher on Wall Street for the third straight day, erasing most of the plunge they took at the start of the week on worries about the worsening trade fight between China and the U.S.

Technology stocks, banks and health care companies accounted for much of the market's broad gains. Microsoft rose 2.3%, JPMorgan Chase rose 1.3% and Merck rose 2%.

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The steady gains mark a turnaround from Monday, when stocks took a nosedive after Beijing issued retaliatory tariffs on U.S. goods.

The S&P 500 added 25 points, or 0.9%, to 2,876.

The Dow Jones Industrial Average rose 214 points, or 0.8%, to 25,862. The Nasdaq gained 75 points, or 1%, to 7,898.

Bond prices fell. The yield on the 10 year Treasury rose to 2.39%

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Credits

Associated Press

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

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