Markets Right Now: US stocks claw back more lost ground

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

11:45 a.m.

U.S. stocks are posting solid gains in midday trading as the market recovers from its worst week in two years.

Technology and industrial companies and retailers were leading the market higher Monday. Apple rose 3.3 per cent, Boeing climbed 2.7 per cent and Amazon also rose 2.7 per cent.

European markets are also higher.

The market is coming off two weeks of steep losses that put stocks into a “correction” — a decline of 10 per cent from a peak — for the first time in two years.

The Dow industrials were up 279 points, or 1.2 per cent, to 24,471.

The broader Standard & Poor’s 500, which many index funds track, rose 25 points, or 1 per cent, to 2,645. The Nasdaq composite gained 87 points, or 1.3 per cent, to 6,962.

___

9:35 a.m.

Stocks are surging in early trading on Wall Street, sending the Dow Jones industrial average up as much as 300 points.

Technology companies and banks are posting some of the biggest gains Monday. Cisco Systems rose 2.9 per cent and Citigroup climbed 2 per cent.

The market is coming off a turbulent week that left major indexes with their biggest weekly losses in two years.

The Dow industrials were up 270 points, or 1.1 per cent, to 24,461.

The broader Standard & Poor’s 500, which many index funds track, rose 30 points, or 1.1 per cent, to 2,648. The Nasdaq composite gained 74 points, or 1.1 per cent, to 6,948.

Bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 2.86 per cent.