Stocks rise broadly as tech reverses course and rallies
NEW YORK (AP) — Stocks rose broadly in afternoon trading on Wall Street Tuesday as technology stocks rallied following a weak start.
The S&P 500 rose 1.4%, the Dow Jones Industrial Average rose 1.3%. The tech-heavy Nasdaq shook off an early loss and was up 1.9%.
Health care giant Johnson & Johnson rose 3.5% after reporting better-than-expected results and raising its dividend.
Energy companies fell along with prices for crude oil and natural gas. Banks were higher as Treasury yields continued to rise, which allows banks to charge higher interest rates on loans.
The yield on the 10-year Treasury rose to 2.90%.