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Markets Right Now: Technology stocks lead US rebound

Last Updated Jul 12, 2018 at 9:20 am PDT

FILE- In this April 5, 2018, file photo, a sign for a Wall Street subway station is shown in New York. The U.S. stock market opens at 9:30 a.m. EDT on Thursday, July 12. (AP Photo/Richard Drew, File)

NEW YORK, N.Y. – The latest on developments in financial markets (all times local):

11:45 a.m.

Stocks are rising in midday trading on Wall Street as technology companies resume their upward march.

Apple climbed 1.6 per cent Thursday, and software company CA soared 18 per cent after agreeing to be acquired by Broadcom, a chipmaker, for $18.9 billion. Broadcom plunged 15 per cent.

Health care and industrial companies are also higher. Johnson & Johnson rose 1.1 per cent and Honeywell climbed 2.1 per cent.

The S&P 500 jumped 19 points, or 0.7 per cent, to 2,793.

The Dow Jones Industrial Average gained 217 points, or 0.9 per cent, to 24,921. The Nasdaq composite added 84 points, or 1.1 per cent, to 7,800.

Bond prices rose. The yield on the 10-year Treasury slipped to 2.85 per cent.

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9:35 a.m.

Stocks are opening higher as technology companies rally.

Apple rose 1.3 per cent Thursday morning. IT management software company CA climbed 17.9 per cent after chipmaker Broadcom agreed to buy it for $18.9 billion.

Broadcom plunged 17.7 per cent.

Energy and industrial companies also recovered a fraction of their losses from the day before.

Comcast added 0.4 per cent after it raised its offer for British pay TV company Sky to $34 billion, surpassing a bid from Fox.

The S&P 500 jumped 11 points, or 0.4 per cent, to 2,785 after a 0.7 per cent loss Wednesday.

The Dow Jones Industrial Average gained 156 points, or 0.6 per cent, to 24,856. The Nasdaq composite added 40 points, or 0.5 per cent, to 7,757.