Retailers, Tech Lead Early Stock Gains
(AP) -- U.S. stocks moved higher in early trading Wednesday, recouping some of the market's losses from a day earlier. Technology stocks accounted for much of the gain. Banks and retailers also rose. Energy stocks lagged as crude oil prices headed lower. Investors had their eye on the latest company earnings.
KEEPING SCORE: The Standard & Poor's 500 index rose 13 points, or 0.5 percent, to 2,729 as of 9:53 a.m. Eastern Time. The Dow Jones industrial average gained 97 points, or 0.4 percent, to 25,061. The Nasdaq added 39 points, or 0.6 percent, to 7,273. The Russell 2000 index of smaller-company stocks picked up 4 points, or 0.3 percent, to 1,534.
TECH BUMP: Gains in several technology companies helped lift the market in early trading. PayPal picked up 88 cents, or 1.1 percent, to $77.94.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
IN GEAR: Advance Auto Parts jumped 12.3 percent after reporting better earnings than analysts were expecting. The stock added $12.94 to $118.29.
ROOM TO GROW: Extra Space Storage climbed 5.3 percent after its results also came in ahead of forecasts. The stock rose $4.30 to $85.05.
ENERGY: Benchmark U.S. crude slid 35 cents to $61.44 per barrel in New York. Brent crude, used to price international oils, shed 4 cents to $65.21 per barrel in London.
BOND YIELDS: Bond prices rose. The yield on the 10-year Treasury fell to 2.88 percent from 2.89 percent late Tuesday.
CURRENCIES: The dollar rose to $107.51 yen from 107.30 yen on Tuesday. The euro slipped to $1.2328 from $1.2336.
MARKETS OVERSEAS: Major indexes in Europe were mostly lower. Germany's DAX slipped 0.3 percent, while France's CAC 40 was flat. Britain's FTSE 100 added 0.3 percent. In Asia, Japan's Nikkei 225 index climbed 0.2 percent and Hong Kong's Hang Seng gained 1.8 percent. Australia's S&P ASX 200 edged 0.1 percent higher. The Kospi in South Korea added 0.6 percent. India's Sensex gained 0.3 percent. Shares in Southeast Asia were mixed.
(BE)