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Markets Right Now: Tech leads a broad rally on Wall Street

September 4, 2019
Trader Michael Milano works on the floor of the New York Stock Exchange, Wednesday, Sept. 4, 2019. Stocks are opening higher on Wall Street following big gains in Asia as Hong Kong's government withdrew a controversial extradition law that set off three months of protests there. (AP Photo/Richard Drew)
Trader Michael Milano works on the floor of the New York Stock Exchange, Wednesday, Sept. 4, 2019. Stocks are opening higher on Wall Street following big gains in Asia as Hong Kong's government withdrew a controversial extradition law that set off three months of protests there. (AP Photo/Richard Drew)

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

4 p.m.

Technology companies led a broad rally in U.S. stocks, erasing much of the market’s losses from a day earlier.

Traders pivoted to riskier holdings Wednesday as encouraging developments overseas helped alleviate anxiety over the global economy.

Lawmakers in Britain were seeking a less chaotic exit from the European Union and political tensions in Hong Kong eased.

Apple rose 1.7% and Intel gained 4.1%.

Banks also rose. Bank of America climbed 1.6%.

The S&P 500 rose 31 points, or 1.1%, to 2,937.

The Dow Jones Industrial Average climbed 237 points, or 0.9%, to 26,355. The Nasdaq rose 102, or 1.3%, to 7,976.

The yield on the 10-year Treasury edged up to 1.47%.

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11:55 a.m.

Stocks are broadly higher at midday Wednesday, led by gains in Apple and other technology stocks.

Apple rose 1.3% and Intel gained 3.2%. Banks also showed strength as JPMorgan and Bank of America rose more than 1%.

Wall Street’s advance follows big gains in Asia as Hong Kong’s government withdrew a controversial extradition law that set off three months of protests there.

The S&P 500 rose 26 points, or 0.9%, to 2,932.

The Dow Jones Industrial Average climbed 214 points, or 0.8%, to 26,332. The Nasdaq rose 81, or 1%, to 7,955.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.47%.

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9:35 a.m.

Stocks are opening higher on Wall Street following big gains in Asia as Hong Kong’s government withdrew a controversial extradition law that set off three months of protests there.

Technology and industrial companies were among the biggest winners in early trading Wednesday. Texas Instruments rose 2.3% and United Technologies rose 1.7%.

The S&P 500 rose 21 points, or 0.7%, to 2,928.

The Dow Jones Industrial Average climbed 196, or 0.7%, to 26,316. The Nasdaq rose 73, or 0.9%, to 7,947.

Hong Kong’s benchmark stock index, the Hang Seng, soared 3.9%.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.49%.

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