NEW YORK, N.Y. – U.S. stocks are moving higher in midday trading as the market bounces back from a steep decline the day before.
Expedia jumped 8 per cent Friday after the online travel company reported sales that beat analysts’ estimates. LinkedIn plunged 21 per cent after releasing a disappointing forecast late Thursday.
The Dow Jones industrial average rose 115 points, or 0.7 per cent, to 17,956 as of 11:45 a.m. Eastern time. It fell 195 points the day before.
The Standard & Poor’s 500 index rose 12 points, or 0.6 per cent, to 2,097. The Nasdaq composite rose 27 points, also 0.6 per cent, to 4,969.
Most Asian and European markets were closed for International Workers Day.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.11 per cent.