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Markets Right Now: Stocks claw higher after a two-day rout

Stocks are solidly higher on Wall Street as the market makes up a small bit of the ground it lost in a massive two-day rout.

Reported by: AP [ Published on: October 12, 2018 21:45 IST ]
Image Source : AP Markets Right Now: Stocks claw higher after a two-day rout

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

11:45 a.m.

Stocks are solidly higher on Wall Street as the market makes up a small bit of the ground it lost in a massive two-day rout.

Longtime investor favorites like Apple and Amazon, which got clobbered in the past two days, had some of the biggest gains Friday. Amazon reclaimed 3 percent and Apple recovered 2 percent.

Indexes are up about 1 percent, but they're still on track for their worst week since late March.

Citigroup jumped 1.4 percent after reporting higher earnings.

The S&P 500 index rose 25 points, or 0.9 percent, to 2,753.

The Dow Jones Industrial Average rose 144 points, or 0.6 percent, to 25,197. The Nasdaq rose 115 points, or 1.5 percent, to 7,439.

Bond prices fell. The yield on the 10-year Treasury rose to 3.15 percent.

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9:35 a.m.

Stocks are opening sharply higher on Wall Street following a two-day rout that shattered a long period of calm on the market.

Big technology and consumer-focused companies, which took some of the worst losses earlier this week, were solidly higher in early trading Friday.

Amazon jumped 3.8 percent and Apple clawed back 2.9 percent.

Citigroup jumped 2.5 percent after reporting higher earnings.

Asian and European markets were also higher.

The S&P 500 index rose 41 points, or 1.5 percent, to 2,770. The index is still headed for its worst week since March.

The Dow Jones Industrial Average rose 383 points, or 1.5 percent, to 25,433. The Nasdaq composite jumped 163 points, or 2.2 percent, to 7,491.

Bond prices fell. The yield on the 10-year Treasury rose to 3.16 percent.

Disclaimer: This is unedited, unformatted feed from the Associated Press (AP) wire.

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