Markets Right Now: Tech, Health Care Lead Gains For Stocks
NEW YORK (AP) — The latest on developments in financial markets (All times local): 11:45 a.m.
U.S. stocks are rising as technology and health care companies make more gains.
Chipmaker Intel jumped 9.4 percent and drugmaker AbbVie soared 9.3 percent after both reported results that were far better than analysts were expecting.
VMware rose 12 percent after The Wall Street Journal reported that Dell may pursue a full takeover of the company.
The Standard & Poor's 500 index rose 13 points, or 0.5 percent, to 2,852.
The Dow Jones industrial average added 71 points, or 0.3 percent, to 26,464. The Nasdaq composite gained 41 points, or 0.6 percent, to 7,452.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.67 percent. That's the highest level for that benchmark rate since July 2014.
Solid gains in technology and health care stocks are sending major U.S. indexes higher in early trading on Wall Street.
Intel jumped 7 percent in the first few minutes of trading Friday after reporting results for its latest quarter that easily beat analysts' forecasts. Intel also gave a strong sales outlook.
Drugmaker AbbVie rose 6.4 percent after its results also came in ahead of expectations.
The Standard & Poor's 500 index rose 9 points, or 0.3 percent, to 2,848.
The Dow Jones industrial average added 52 points, or 0.2 percent, to 26,440. The Nasdaq composite gained 31 points, or 0.4 percent, to 7,443.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.64 percent.