Markets Right Now: Tech stocks lead US indexes higher

U.S. & World

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

11:45 a.m.

Stocks are moving solidly higher in midday trading on Wall Street led by gains in technology companies.

Chipmakers and other tech stocks were doing well Monday after the U.S. gave Chinese telecom giant Huawei another 90 days to buy equipment from American suppliers.

Chipmaker Nvidia jumped 5.8%.

Stocks are coming off their third weekly loss in a row as investors try to parse conflicting signals on the U.S. economy and determine whether a recession is on the horizon.

Investors were relieved that to see long-term bond yields rising. The yield on 10-year Treasury rose to 1.59% from 1.54% late Friday.

The S&P 500 rose 36 points, or 1.3%, to 2,925.

The Dow Jones Industrial Average rose 272, or 1.1%, to 26,157. The Nasdaq rose 119 points, or 1.5%, to 8,015.

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9:35 a.m.

Technology stocks were leading indexes higher on Wall Street after the U.S. gave Chinese telecom giant Huawei another 90 days to buy equipment from American suppliers.

Chipmakers did especially well in the early going Monday. Nvidia jumped 4.2% and Qualcomm rose 2.5%.

Stocks are coming off their third weekly loss in a row as investors try to parse conflicting signals on the U.S. economy and determine whether a recession is on the horizon.

Investors were relieved that to see long-term bond yields rising. The yield on 10-year Treasury rose to 1.61% from 1.54% late Friday.

The S&P 500 rose 34 points, or 1.2%, to 2,922.

The Dow Jones Industrial Average rose 290, or 1.1%, to 26,172. The Nasdaq rose 119 points, or 1.5%, to 8,014.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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