NEW YORK – The latest on developments in financial markets (All times local):
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11:45 a.m.
Stocks are shaking off an early wobble and moving higher in midday trading on Wall Street, led by gains in technology companies.
Facebook rose 4 percent Thursday after reporting revenue that came in ahead of analysts’ forecasts. Chipmaker Qorvo jumped 13 percent after reporting a solid quarter.
United Parcel Service slumped 5.6 percent after saying higher costs affected its business in the fourth quarter.
The Standard & Poor’s 500 index rose 9 points, or 0.3 percent, to 2,833.
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The Dow Jones industrial average climbed 113 points, or 0.4 percent, to 26,261. The Nasdaq composite increased 15 points, or 0.2 percent, to 7,426.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.75 percent.
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9:35 a.m.
Stocks are opening broadly lower on Wall Street after several big companies reported disappointing quarterly results or outlooks.
United Parcel Service slumped 6 percent in early trading Thursday after saying higher costs affected its business in the fourth quarter.
PayPal dropped 7.7 percent after eBay said it would move to a different payment processor.
Chipmaker Qorvo jumped 12 percent after reporting a solid quarter.
The Standard & Poor’s 500 index fell 3 points, or 0.1 percent, to 2,819.
The Dow Jones industrial average fell 86 points, or 0.3 percent, to 26,071. The Nasdaq composite fell 19 points, or 0.3 percent, to 7,392.
