Markets Right Now: Stocks gain on last day of a brutal month
NEW YORK (AP) — The latest on developments in financial markets (all times local):
4 p.m.
Stocks climbed for the second day in a row at the end of a brutal month for global markets.
Investors applauded strong quarterly results Wednesday from companies including Facebook and General Motors, giving the market its first two-day gain since late September.
GM, which also announced buyouts, soared 9.1 percent. Facebook added 3.8 percent.
An unusually turbulent ride for investors left the S&P 500 down nearly 7 percent in October, its worst monthly loss in seven years.
The S&P 500 rose 29 points, or 1.1 percent, to 2,711.
The Dow Jones Industrial Average climbed 241 points, or 1 percent, to 25,115. The Nasdaq composite rose 144 points, or 2 percent, to 7,305.
Bond prices fell. The yield on the 10-year Treasury rose to 3.15 percent.
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11:45 a.m.
Stocks are climbing again as investors applaud quarterly results from companies including Facebook and General Motors.
Industries that have plunged this month, including technology and internet companies and retailers, rose on Wednesday.
After a rally a day earlier, the S&P 500 is on track for its first two-day winning streak since late September. The index is still down 6.5 percent in October and is headed for its worst monthly loss since September 2011.
Markets also rose in Europe and Asia.
The S&P 500 rose 31 points, or 1.1 percent, to 2,713.
The Dow Jones Industrial Average climbed 267 points, or 1.1 percent, to 25,149. The Nasdaq composite rose 128 points, or 1.8 percent, to 7,288.
Bond prices fell. The yield on the 10-year Treasury rose to 3.14 percent.
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9:35 a.m.
Stocks are opening broadly higher on Wall Street, putting the market on track for its second gain in a row, the first time that's happened in more than a month.
Technology and internet stocks rose sharply early Wednesday. Facebook jumped 5.6 percent after reporting earnings that came in far ahead of analysts' estimates.
General Motors rose 5.9 percent after reporting solid results.
Amazon, which has lost almost a quarter of its value over the last month, rose 3.3 percent.
The S&P 500 index rose 25 points, or 1 percent to 2,708.
The Dow Jones Industrial Average climbed 29 points, or 0.1 percent, to 25,083. The Nasdaq composite rose 122 points, or 1.7 percent, to 7,285.
Bond prices fell. The yield on the 10-year Treasury note rose to 3.14 percent.
