Markets Right Now: Stocks surge to biggest gain since March

FILE- In this Oct. 11, 2018, file photo trader Thomas Ferrigno works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Tuesday, Oct. 16. (AP Photo/Richard Drew, File)

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

4 p.m.

Stocks are surging on Wall Street, clawing back some of the ground lost last week, after several big U.S. companies reported standout results.

Major U.S. indexes climbed more than 2 percent Tuesday, giving them their biggest one-day gains since March. They're still down for the month following a rout last week.

Investment banks Morgan Stanley and Goldman Sachs rose sharply after turning in strong earnings reports.

Johnson & Johnson and UnitedHealth, the nation's biggest health insurer, also jumped after releasing their results.

Technology stocks gained back some of the ground they lost last week.

The S&P 500 index rose 59 points, or 2.1 percent, to 2,809.

The Dow Jones Industrial Average climbed 547 points, or 2.2 percent, to 25,798. The Nasdaq composite added 214 points, or 2.9 percent, to 7,645.

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2:36 p.m.

Stocks are surging on Wall Street, clawing back some of the ground lost last week, after several big U.S. companies reported standout results.

Major U.S. indexes were up about 2 percent in afternoon trading Tuesday, putting them on track for their biggest one-day gains since March.

Investment banks Morgan Stanley and Goldman Sachs rose sharply after turning in strong earnings reports.

Johnson & Johnson and UnitedHealth, the nation's biggest health insurer, also rose sharply after releasing their results.

Technology stocks rose following a rout last week.

The S&P 500 jumped 53 points, or 1.9 percent, to 2,803.

The Dow Jones Industrial Average climbed 484 points, or 1.9 percent, to 25,733. It was up as much as 502 earlier.

The Nasdaq added 187 points, or 2.5 percent, to 7,620.

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11:45 a.m.

World stock markets are turning sharply higher, helped by strong earnings reports from major U.S. companies.

Investment banks Morgan Stanley and Goldman Sachs, health care products company Johnson & Johnson and health insurer UnitedHealth all climbed after announcing their third-quarter results.

Technology companies are also rising after their recent slump. Microsoft rose 2.8 percent.

The S&P 500 index jumped 38 points, or 1.4 percent, to 2,789.

The Dow Jones Industrial Average climbed 342 points, or 1.4 percent, to 25,595. The Nasdaq composite added 137 points, or 1.8 percent, to 7,568.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 3.16 percent.

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9:35 a.m.

Strong earnings from investment banks and big health care companies are helping send stocks solidly higher in early trading on Wall Street.

Morgan Stanley climbed 3.8 percent in the first few minutes of trading Tuesday, and Goldman Sachs increased 1.6 percent.

UnitedHealth Group, a major health insurer, rose 2.1 percent and Johnson and Johnson rose 2.2 percent.

Technology stocks were also higher following a recent bout of weakness. Microsoft rose 1.9 percent.

The S&P 500 index rose 20 points, or 0.7 percent, to 2,770.

The Dow Jones Industrial Average climbed 195 points, or 0.8 percent, to 25,444. The Nasdaq composite added 74 points, or 1 percent, to 7,506.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 3.16 percent.

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