NEW YORK, N.Y. – The latest on developments in financial markets (all times local):
Stocks are moving solidly higher in midday trading on Wall Street as markets stabilize following three days of turmoil.
Banks, retailers and industrial companies also posted gains Wednesday, helping indexes claw back more of the ground they lost in steep drops Friday and Monday. Boeing added 3 per cent and JPMorgan Chase rose 1.4 per cent.
The gains were broad. Two stocks rose for every one that fell on the New York Stock Exchange.
Wynn Resorts jumped 8.6 per cent after Steve Wynn said he would resign as CEO following allegations of sexual misconduct.
The Standard & Poor’s 500 rose 20 points, or 0.8 per cent, to 2,715.
The Dow Jones industrial average rose 317 points, or 1.3 per cent, to 25,230. The Nasdaq climbed 21 points, or 0.3 per cent, to 7,137.
Stocks are opening modestly higher on Wall Street as the market stabilizes following three days of tumult.
Consumer-focused companies rose the most in early trading Wednesday. Disney rose 1.5 per cent and Amazon rose 1 per cent.
Technology companies fell. Microsoft gave up 1.2 per cent.
Chipotle Mexican Grill slumped 8.8 per cent after saying it expects customer traffic to continue to decline.
Wynn Resorts jumped 6.8 per cent after Steve Wynn said he would resign as CEO following allegations of sexual misconduct.
The Standard & Poor’s 500 rose 4 points, or 0.2 per cent, to 2,701.
The Dow Jones industrial average rose 102 points, or 0.4 per cent, to 25,007. The Nasdaq edged down 5 points, or 0.1 per cent, to 7,110.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.78 per cent.