Today's Market: US Stocks Turn Broadly Higher At Midday

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

Microsoft rose 1.2 percent and Johnson & Johnson climbed 1.1 percent Thursday. Drugmaker Biogen rose 1.9 percent.

Airlines continued to take steep losses as investors worry about rising costs and the possibility of falling fares. American Airlines lost 2.9 percent.

The dollar continued to weaken.

The Standard & Poor's 500 index rose 6 points, or 0.2 percent, to 2,844.

The Dow Jones industrial average added 171 points, or 0.7 percent, to 26,422. The Nasdaq composite rose 27 points, or 0.4 percent, to 7,442.

Bond prices turned higher. The yield on the 10-year Treasury fell to 2.64 percent.

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9:35 a.m.

Stocks are opening broadly higher as technology companies recover after sliding a day earlier.

Facebook rose 1.1 percent in early trading Thursday and chipmaker Intel added 1.6 percent.

Several companies were moving after reporting their latest quarterly results. Drugmaker Biogen rose 1.5 percent and Ford slumped 2.7 percent.

The dollar continued to weaken against other currencies.

The Standard & Poor's 500 index rose 9 points, or 0.3 percent, to 2,847.

The Dow Jones industrial average added 101 points, or 0.4 percent, to 26,357. The Nasdaq composite rose 41 points, or 0.6 percent, to 7,457.

Bond prices fell. The yield on the 10-year Treasury rose to 2.66 percent.

Categories: Finance, Today’s Business News