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NEW YORK – Financial Market Update (local time):
16h
Stocks climbed for the second day in a row at the end of a brutal month for global markets.
Investors applauded Wednesday's excellent quarterly results from companies such as Facebook and General Motors, giving the market its first two-day gain since the end of September.
GM, which also announced buybacks, climbed 9.1%. Facebook added 3.8 percent.
An unusually buoyant move for investors left the S & P 500 down nearly 7% in October, its worst monthly loss in seven years.
The S & P 500 index rose 29 points, or 1.1%, to 2,711.
The Dow Jones Industrial Average Index climbed 241 points, or 1%, to 25,115 points. The Nasdaq composite advanced 144 points, or 2%, to 7,305.
Bond prices have fallen. The 10-year US Treasury yield was 3.15%.
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11:45
Shares are rising again as investors applaud the quarterly results of companies such as Facebook and General Motors.
Industries that plunged this month, including technology companies and the Internet, as well as retailers, advanced Wednesday.
After a rally a day earlier, the S & P 500 is on its way to its first straight streak since the end of September. The index is still down 6.5% in October and heading for its worst monthly loss since September 2011.
Markets have also grown in Europe and Asia.
The S & P 500 index rose 31 points, or 1.1%, to 2,713.
The Dow Jones Industrial Average rose 267 points, or 1.1%, to 25,149 points. The Nasdaq composite rose 128 points, or 1.8%, to 7,288.
Bond prices have fallen. The 10-year US Treasury yield was 3.14%.
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9:35
Shares are opening up on Wall Street, allowing the market to achieve its second consecutive gain, the first time in more than a month.
Technology and Internet stocks rose sharply on Wednesday morning. Facebook jumped 5.6% after announcing earnings well above analysts' estimates.
General Motors rose 5.9% after posting solid results.
Amazon, which lost nearly a quarter of its value over the past month, rose 3.3%.
The S & P 500 index rose 25 points, or 1%, to 2,708.
The Dow Jones Industrial Average rose 29 points, or 0.1%, to 25,083. The Nasdaq composite rose 122 points, or 1.7%, to 7,285.
Bond prices have fallen. The 10-year Treasury Note yield was 3.14%.
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