Markets Right Now: Technology Leads Stocks Slightly Higher

Getty

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

11:45 a.m.

Stocks are slightly higher in midday trading ahead of a highly anticipated announcement from the Federal Reserve on interest rates.

Wall Street’s main focus is the central bank’s decision on interest rates later Wednesday. Investors have been betting that the Fed will cut rates for the first time in a decade to help shore up the U.S. economy.

Technology stocks were the clear leaders.

Apple jumped 4.4 percent after reporting results the night before. Investors were encouraged to see that its sales in China had stabilized despite the worsening rhetoric between Washington and Beijing over trade.

The S&P 500 index rose 3 points, or 0.1 percent, to 3,016.

The Dow Jones Industrial Average rose 27 points, or 0.1 percent, to 27,224. The Nasdaq rose 22 points, or 0.3 percent, to 8,296.

___

9:35 a.m.

Stocks are opening slightly higher on Wall Street led by gains in Apple and other technology companies.

Apple jumped 5.1 percent in early trading Wednesday after reporting results the night before. Investors were encouraged to see that its sales in China had stabilized despite the worsening rhetoric between Washington and Beijing over trade.

Later Wednesday investors will be closely watching a policy announcement from the U.S. Federal Reserve. The Fed is widely expected to cut its benchmark short-term interest rate for the first time since the financial crisis.

The S&P 500 index edged up 1 point to 3,015.

The Dow Jones Industrial Average rose 68 points, or 0.2 percent, to 27,270. The Nasdaq rose 11 points, or 0.1 percent, to 8,286.

The yield on the 10-year Treasury held steady at 2.06 percent.

Categories: Today’s Business News, World News