Markets Right Now: US stocks rebound in midday trade


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

11:45 a.m.

Stocks are higher in midday trading on Wall Street as the market shakes off a few days of sluggish trading.

Electronics retailer Best Buy surged 19 percent after reporting better online sales and lower costs, and Tableau Software jumped 13 percent after announcing an unexpected CEO change.

The Dow Jones industrial average rose 38 points, or 0.1 percent, to 18,567. The Standard & Poor’s 500 index climbed 7 points, or 0.3 percent, to 2,190. The Nasdaq composite added 22 points, or 0.4 percent, to 5,266.

Oil prices turned higher. U.S. crude rose 1 percent to nearly $48 a barrel.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.55 percent.

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9:35 a.m.

Stocks are opening solidly higher on Wall Street as the market shakes off a few days of sluggish trading.

Electronics retailer Best Buy surged 16 percent after reporting better online sales and lower costs, and Tableau Software jumped 10 percent after announcing an unexpected CEO change.

The Dow Jones industrial average rose 98 points, or 0.5 percent, to 18,629. The Standard & Poor’s 500 index climbed 10 points, or 0.5 percent, to 2,192. The Nasdaq composite added 23 points, or 0.5 percent, to 5,268.

Oil prices continued to fall. U.S. crude sank 1 percent to just under $47 a barrel.

Bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 1.54 percent.

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