Markets Right Now: Stocks are higher in midday trading

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NEW YORK (AP) — The latest on developments in financial markets (all times local):

11:45 a.m.

Stocks are climbing in midday trading on Wall Street, led by gains in technology and consumer-focused companies.

Optimism over economic growth is sending industrial and energy companies higher Friday, along with banks and makers of basic materials.

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Starbucks jumped 3.7 percent after reporting strong sales over the holiday period.

Western Digital rose 5.1 percent after issuing a positive forecast. Rival hard drive maker Seagate climbed 5.7 percent.

The S&P 500 index rose 26 points, or 1 percent, to 2,668.

The Dow Jones Industrial Average climbed 238 points, or 1 percent, to 24,790. The Nasdaq added 93 points, or 1.3 percent, to 7,166.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.74 percent.

___

9:35 a.m.

Stocks are opening broadly higher on Wall Street after several companies released solid earnings and forecasts.

Starbucks rose 2.5 percent early Friday after reporting that sales were strong over the holiday period, and Western Digital jumped 9 percent after issuing a positive forecast. Rival hard drive maker Seagate also rose 9.4 percent.

The S&P 500 index rose 17 points, or 0.7 percent, to 2,659.

The Dow Jones Industrial Average rose 194 points, or 0.8 percent, to 24,748. The Nasdaq composite rose 47 points, or 0.7 percent, to 7,120.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.74 percent.

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