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Feb 22, 11:56 AM EST

Markets Right Now: Tech, industrials pull US stocks higher


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

11:45 a.m.

Technology and industrials companies helped drive U.S. stocks broadly higher in midday trading on Wall Street.

Investors were relieved Thursday to see bond yields pull back from the four-year highs they reached a day earlier, which helped knock stock prices lower.

The market is coming off a two-day losing streak.

Chesapeake Energy jumped 25 percent, the most in the Standard & Poor's 500 index, after reporting earnings that were higher than analysts were expecting.

The yield on the 10-year Treasury fell to 2.91 percent from 2.95 percent a day earlier.

The S&P 500 rose 27 points, or 1 percent, to 2,729.

The Dow Jones industrial average climbed 335 points, or 1.4 percent, to 25,134. The Nasdaq rose 61 points, or 0.9 percent, to 7,280.

---

9:35 a.m.

Stocks are opening higher on Wall Street following a late sell-off in the market a day earlier.

Technology companies and banks rose the most early Thursday. HP rose 1.6 percent and Bank of New York Mellon climbed 1.3 percent.

Chesapeake Energy jumped 10.6 percent, the most in the Standard & Poor's 500 index, after reporting earnings that were higher than analysts were expecting.

Bond prices rose, sending yields lower. That came as a relief following a late spike in bond yields a day earlier.

The yield on the 10-year Treasury fell to 2.92 percent.

The S&P 500 rose 17 points, or 0.7 percent, to 2,719.

The Dow Jones industrial average climbed 185 points, or 0.8 percent, to 24,985. The Nasdaq rose 44 points, or 0.6 percent, to 7,263.

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