Markets Right Now: US stocks gain, led by tech and banks

Markets Right Now: US stocks gain, led by tech and banks

At 11:31 a.m. EDT the Dow Jones industrial average was up 492.44 points, or 2.05 percent, at 24,471.54.

Shares of Spectrum Pharma rose 22 percent after company provided positive data from lung cancer drug trial.

Yet while the degree of Wednesday's stock market decline may seem jarring, it should be noted that the Dow surged nearly 500 points over the two days prior, meaning the decline hasn't even erased half of that.

The rising tensions sent oil prices surging, boosting energy stocks almost 1 percent.

Stocks are opening solidly higher on Wall Street as the market regains ground following a loss the day before. The Nasdaq Composite was down 25.27 points, or 0.36%, at 7,069.03.

Stocks market analysts said following the gains in consumer and industrial goods stocks observed in yesterday's trading session, this presents attractive entry opportunities for investors.

Verifone Systems shares rose 52 percent after the company agreed to be taken private for $2.28 billion.

The week also marks the start of earnings season with big US banks such as JPMorgan Chase, Citigroup and Wells Fargo set to report first-quarter results on Friday.

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The S&P 500 is down 60.45 points, or 2.3 percent. The yield on the 10-year note fell to 2.781% in recent trading.

TOKYO: Asian stocks declined in a knee-jerk reaction to Trump's latest tariff proposal but regained a measure of calm following Wall Street's strong performance overnight.

USA stocks are climbing in midday trading as technology companies, banks and industrial companies rally. JPMorgan Chase added 2.4 percent.

The weakness on Wall Street came amid geopolitical concerns after President Donald Trump warned Russian Federation "get ready" for missiles being launched at Syria.

"The expectation was this could have gone one of two ways: he could have been aggressive about USA tariffs or been conciliatory and it feels like he's more conciliatory", said Art Hogan, chief market strategist at Wunderlich Securities in NY.

The Dow Jones industrial average lost 158 points, or 0.7 percent, to 24,247.

Both the S&P 500 and the Nasdaq are set to fall 1% at the open. The stock was the biggest decliner on the S&P, followed by industry peer WW Grainger's (GWW.N) 4.4 percent drop.

Specifically, at the close of transactions yesterday, the All-Share Index rose by 69.86 points or 0.17 per cent to close at higher at 40,499.04 compared with 40,429.18 posted on Monday.

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