Markets Right Now: Technology, banks lead rebound

Markets Associated Press

The latest on developments in financial markets (All times local):

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4:15 p.m.

Stocks are closing higher on Wall Street led by technology companies and banks, but drug makers and distributors tumbled.

Aetna surged nearly 12 percent after the Wall Street Journal reported it's in talks to be acquired by drugstore chain CVS.

McKesson fell 5.2 percent after a report said pharmaceutical boards in at least 12 states gave Amazon approval for wholesale pharmacy licenses.

Drugmaker Celgene plunged 16.6 percent after it cut its profit forecast for this year and its estimates for the year 2020 as well.

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The Standard & Poor's 500 index gained 3 points or 0.1 percent, to 2,560.

The Dow Jones industrial average rose 71 points, or 0.3 percent, to 23,401. The Nasdaq composite slipped 7 points, or 0.1 percent, to 6,557.

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11:50 a.m.

Stocks are trading higher on Wall Street led by technology companies and banks as the market regains some of the previous day's losses.

McKesson jumped 5.9 percent after the prescription drug distributor had a better-than-expected second quarter.

Twitter soared 17 percent after reporting a better-than-expected third-quarter profit.

Drugmaker Celgene plunged 18 percent after it cut its profit forecast for this year and its estimates for the year 2020 as well.

Xerox dropped 9 percent after reporting disappointing sales for its third quarter.

The Standard & Poor's 500 index gained 6 points or 0.2 percent, to 2,563.

The Dow Jones industrial average rose 76 points, or 0.3 percent, to 23,405. The Nasdaq composite is up 3 points, or 0.1 percent, to 6,567.

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9:40 a.m.

Stocks are opening higher on Wall Street led by technology companies and banks as the market regains most of the previous day's losses.

McKesson jumped 5.2 percent after the prescription drug distributor had a better-than-expected second quarter.

Twitter soared 13.7 percent after reporting a better-than-expected third-quarter profit.

Drugmaker Celgene plunged 18.1 percent after it cut its profit forecast for this year and its estimates for the year 2020 as well.

Xerox dropped 6.1 percent after reporting disappointing sales for its third quarter.

The Standard & Poor's 500 index gained 6 points or 0.2 percent, to 2,563.

The Dow Jones industrial average leapt 101 points, or 0.4 percent, to 23,432. The Nasdaq composite is up 1 point to 6,566.