Markets Right Now: Tech, banks lead US stock indexes higher

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

4:00 p.m.

Stocks bounced higher on Wall Street, led by gains in big tech companies, health care and banks.

Google parent Alphabet jumped 2 per cent, Vertex Pharmaceuticals rose 4.3 per cent and Bank of America rose 1.9 per cent.

Macy’s rose 4.6 per cent after announcing a restructuring and naming a former eBay executive as its president.

With less nervousness in the market, prices for Treasury bonds, gold and other go-to investments for turbulent times fell.

The Standard & Poor’s 500 index rose 24 points, or 1 per cent, to 2,452.

The Dow Jones industrial average climbed 196 points, or 0.9 per cent, to 21,899. The Nasdaq composite rose 84 points, or 1.4 per cent, to 6,297.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.21 per cent.

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11:45 a.m.

Stocks pushed higher as markets gain strength following a shaky run the last couple of weeks.

Shares of technology companies, retailers and metals miners helped lead the way Tuesday. Apple rose 1.7 per cent.

Macy’s rose 3 per cent after announcing a restructuring and naming a former eBay executive as its president.

With less nervousness in the market, prices for Treasury bonds, gold and other go-to investments for turbulent times fell.

The Standard & Poor’s 500 index rose 19 points, or 0.8 per cent, to 2,447.

The Dow Jones industrial average climbed 155 points, or 0.7 per cent, to 21,861. The Nasdaq composite rose 71 points, or 1.2 per cent, to 6,284.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.20 per cent.

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9:35 a.m.

Stocks are opening higher on Wall Street, and some of the biggest gains went to retailers and technology companies.

Macy’s jumped 3 per cent in early trading Tuesday after naming a former eBay executive as its president, and DSW soared 21 per cent after reporting a much stronger quarter than analysts expected.

Coty slumped 10 per cent after reporting earnings that fell short of analysts’ forecasts.

The Standard & Poor’s 500 index rose 12 points, or 0.5 per cent, to 2,440.

The Dow Jones industrial average climbed 97 points, or 0.5 per cent, to 21,800. The Nasdaq composite rose 40 points, or 0.7 per cent, to 6,254.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.20 per cent.