Markets Right Now: Late rally sends US stock indexes higher

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

4 p.m.

Stocks moved sharply higher in the last hour of trading, allowing the market to claw back a good part of the ground it lost a day earlier.

Indexes had spent most of Tuesday wobbling between gains and losses.

Technology companies again drove much of the gains. Intel, Microsoft and Apple all rose. Ford and General Motors also climbed.

Banks rose in tandem with interest rates, and health care companies also rallied.

The S&P 500 rose 32 points, or 1.3 percent, to 2,614.

The Dow Jones industrial average climbed 389 points, or 1.6 percent, to 24,033. It fell 458 a day earlier.

The Nasdaq composite increased 71 points, or 1 percent, to 6,941.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.79 percent.

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11:45 a.m.

Stocks shook off a rocky start and are solidy higher in midday trading, led by gains in banks as interest rates move higher.

State Street rose 1.2 percent Tuesday. Consumer products makers and health care companies also rose. Coca-Cola climbed 1.8 percent and Johnson & Johnson added 2 percent.

Ford and General Motors also climbed.

Media conglomerate Viacom sank 4 percent following reports that sibling company CBS wanted to buy it for below its current market value. CBS rose 2.5 percent.

The S&P 500 rose 10 points, or 0.4 percent, to 2,592.

The Dow Jones industrial average climbed 130 points, or 0.5 percent, to 23,775. The Nasdaq composite increased 18 points, or 0.2 percent, to 6,887.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.78 percent.

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9:35 a.m.

Stocks are opening higher on Wall Street as the market claws back some of the ground it lost in a plunge the day before.

Technology stocks and retailers, which bore the brunt of the selling a day earlier, posted solid gains in early trading Tuesday.

Microsoft rose 1 percent and Amazon climbed 1.3 percent.

Media conglomerate Viacom sank 4 percent following reports that sister company CBS wanted to buy it for below its current market value. CBS rose 1 percent.

The S&P 500 rose 10 points, or 0.4 percent, to 2,592.

The Dow Jones industrial average climbed 114 points, or 0.5 percent, to 23,742. The Nasdaq composite increased 43 points, or 0.6 percent, to 6,915.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.76 percent.