Financial stocks are leading U.S. market indexes higher a day after a number of banks announced dividend increases and stock buybacks.
Morgan Stanley gained 4 percent in midday trading Thursday. The bank raised its dividend and announced a share buyback after getting permission to do so from the Federal Reserve. Other banks also rose.
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The Dow Jones industrial average was up 190 points, or 1.1 percent, to 17,827 as of 11:45 am. Eastern time.
The Standard & Poor's 500 index rose 19 points, or 0.9 percent, to 2,059. The Nasdaq composite rose 26 points, or 0.5 percent, to 4,875.
Intel fell 4 percent after slashing its revenue forecast.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.08 percent.