Markets Right Now: Stocks turn higher on Wall Street

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

11:45 a.m.

Stocks are rising sharply on Wall Street in midday trading, clawing back some of the ground they lost over the previous week.

Technology companies rallied Wednesday and energy companies rose along with crude oil prices. Microsoft rose 2.3 per cent and Chevron gained 1.4 per cent.

Health care and industrial companies also jumped, while safer, high-dividend stocks like utilities and household goods makers were little changed.

The S&P 500 index gained 39 points, or 1.5 per cent, to 2,676.

The Dow Jones Industrial Average jumped 333 points, or 1.4 per cent, to 24,703. The Nasdaq composite rose 147 points, or 2.1 per cent, to 7,179.

Stocks in Europe and Asia also rallied.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.90 per cent.

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9:35 a.m.

Global stock indexes are climbing as investors hope for progress in U.S.-China trade negotiations.

Technology companies and retailers rose Wednesday. Microsoft jumped 2.1 per cent and Amazon rose 1.3 per cent.

Energy companies jumped as crude oil prices rose 1.4 per cent.

Equipment rental company United Rentals rose 7.3 per cent after giving strong forecasts for 2019.

Stocks have gone through huge swings this week after a wave of selling at the end of the previous week.

The S&P 500 index gained 30 points, or 1.2 per cent, to 2,667.

The Dow Jones Industrial Average jumped 283 points, or 1.2 per cent, to 24,653. The Nasdaq composite rose 88 points, or 1.3 per cent, to 7,120.

Stocks in Europe and Asia also rallied.