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Markets Right Now: Early rally mostly fades on Wall Street

April 9, 2018

Trader Michael Conlon, left. and specialist Anthony Rinaldi on the floor of the New York Stock Exchange, Monday, April 9, 2018. Stocks are opening solidly higher on Wall Street, led by gains in big technology companies. (AP Photo/Richard Drew)

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

4 p.m.

Stocks indexes gave up much of an early rally ended with meager gains on Wall Street.

Large-company stocks did better than smaller ones Monday. The Dow Jones industrial average and the S&P 500 indexes ended higher, but smaller-company stocks lagged behind.

Technology companies and banks rose more than the rest of the market. Apple and Google’s parent company, Alphabet, each rose 1 percent.

The S&P 500 rose 8 points, or 0.3 percent, to 2,613.

The Dow average increased 46 points, or 0.2 percent, to 23,979. It had been up as much as 440 earlier.

The Nasdaq composite added 35 points, or 0.5 percent, to 6,950.

The Russell 2000 index of smaller-company stocks ended little changed.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.78 percent.

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11:45 a.m.

Stocks are climbing as investors’ worries about trade tensions between the U.S. and China eased following a flare-up last week.

Technology companies like Apple and Microsoft are bouncing back from their recent losses Monday, and banks are rising along with interest rates.

Apple rose 2.2 percent and Microsoft climbed 2.5 percent. JPMorgan Chase added 2.4 percent.

Gene therapy developer AveXis soared 79 percent after drugmaker Novartis agreed to buy it.

The S&P 500 index rose 40 points, or 1.5 percent, to 2,644.

The Dow Jones industrial average increased 345 points, or 1.4 percent, to 24,279. The Nasdaq composite added 135 points, or 2 percent, to 7,050.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.81 percent.

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9:35 a.m.

Stocks are opening solidly higher on Wall Street, led by gains in big technology companies.

Apple rose 1.4 percent in early trading Monday, and Microsoft climbed 1.1 percent.

Banks were also higher as bond yields rose. JPMorgan Chase was up 1.1 percent.

The early gains erased some of the market’s losses from last week.

The S&P 500 index rose 14 points, or 0.6 percent, to 2,618.

The Dow Jones industrial average increased 166 points, or 0.7 percent, to 24,095. The Nasdaq composite added 57 points, or 0.8 percent, to 6,970.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.80 percent.

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