Markets Right Now: Dow has first close above 26,000 points

By The Associated PressMarketsAssociated Press

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

4 p.m.

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Stocks are closing higher on Wall Street, sending the Dow Jones industrial average to its first close above 26,000 points.

The Dow had traded above that level on Tuesday but wound up closing lower that day. The Dow's surge on Wednesday was driven in part by a big gain in Boeing.

With the stock market reaching records so often, 1,000-point moves in the Dow have become increasingly commonplace. It's been just eight trading days since the Dow had its first close above 25,000.

Technology stocks were again some of the biggest winners. Microsoft rose 2 percent.

The Dow rose 332 points, or 1.3 percent, to 26,115.

The Standard & Poor's 500 rose 26 points, or 0.9 percent, to 2,802.

The Nasdaq composite gained 74 points, or 1 percent, to 7,298.

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11:45 a.m.

Stocks are moving higher on Wall Street as the market makes up some of the ground it lost a day earlier.

Technology and health care companies were leading the gains in midday trading Wednesday. Microsoft rose 1.7 percent and UnitedHealth gained 1 percent.

Juno Therapeutics soared 47 percent after the Wall Street Journal reported that biotech drugmaker Celgene might buy it.

The Standard & Poor's 500 index rose 13 points, or 0.5 percent, to 2,790.

The Dow Jones industrial average rose 173 points, or 0.7 percent, to 25,966. The Nasdaq composite gained 33 points, or 0.5 percent, to 7,257.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.56 percent.

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9:35 a.m.

Stocks are opening higher on Wall Street as the market makes up some of the ground it lost a day earlier.

Technology and health care companies were leading the gains early Wednesday. Microsoft and UnitedHealth each rose 1 percent in the first few minutes of trading.

Juno Therapeutics soared 50 percent after the Wall Street Journal reported that biotech drugmaker Celgene might buy it.

The Standard & Poor's 500 index rose 6 points, or 0.2 percent, to 2,783.

The Dow Jones industrial average rose 120 points, or 0.5 percent, to 25,910. The Nasdaq composite gained 22 points, or 0.3 percent, to 7,245.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.56 percent.