Markets Right Now: Stocks rise as tech shares recover

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

4:00 p.m.

Stocks are closing higher on Wall Street Tuesday as technology companies lead solid gains across the market.

Chipmakers rallied after the U.S. government issued a 90-day grace period on its order to restrict U.S. firms from selling to Chinese telecom gear maker Huawei. Micron Technology rose 2.9%.

Apple rose 2% and Boeing gained 1.7% to boost the Dow Jones Industrial Average.

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Quarterly reports from two department stores disappointed investors. J.C. Penney fell 7% after reporting a wider than expected quarterly loss, while Kohl’s sank 12.3% after cutting its outlook for fiscal 2020.

The S&P 500 index rose 24 points, or 0.9%, to 2,864.

The Dow gained 197 points, or 0.8%, to 25,877. The Nasdaq added 83 points, or 1.1%, to 7,785.

The yield on the 10 year Treasury rose to 2.43%.

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11:55 a.m.

Stocks are higher at midday on Wall Street Tuesday as technology companies lead solid gains across the market.

Chipmakers rallied after the U.S. government issued a 90-day grace period on its order to restrict U.S. firms from selling to Chinese telecom gear maker Huawei. Micron Technology rose 3.4%.

Apple rose 2.3% and Boeing gained 1.2% to boost the Dow Jones Industrial Average.

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Quarterly reports from two department stores disappointed investors. J.C. Penney fell 9.6% after reporting a wider than expected quarterly loss, while Kohl’s sank 11% after cutting its outlook for fiscal 2020.

The S&P 500 index rose 20 points, or 0.7%, to 2,860.

The Dow gained 130 points, or 0.5%, to 25,810. The Nasdaq added 74 points, or 1%, to 7,777.

The yield on the 10 year Treasury rose to 2.43%.

___

9:35 a.m.

Stocks are opening higher on Wall Street Tuesday as technology companies rebound from a sell-off a day earlier.

Chipmakers rallied after the U.S. government issued a 90-day grace period on its order to restrict U.S. firms from selling to Chinese telecom gear maker Huawei. Qualcomm rose 2.1%.

Earnings from two department stores disappointed investors. J.C. Penney fell 7.8% after reporting a wider than expected quarterly loss, while Kohl’s sank 12.5% after cutting its outlook for fiscal 2020.

Home Depot shares declined 1.9% as the home improvement giant saw a key sales figure fall short of expectations.

The S&P 500 index rose 18 points, or 0.6%, to 2,858.

The Dow gained 144 points, or 0.6%, to 25,824. The Nasdaq added 73 points, or 1%, to 7,775.

The yield on the 10 year Treasury was up slightly at 2.42%.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

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