Stocks move higher, bouncing back from a drop the day before
NEW YORK (AP) — U.S. stocks are moving higher in midday trading as the market bounces back from a steep decline the day before.
Expedia jumped 8 percent Friday after the online travel company reported sales that beat analysts' estimates. LinkedIn plunged 21 percent after releasing a disappointing forecast late Thursday.
The Dow Jones industrial average rose 115 points, or 0.7 percent, 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 percent, to 2,097. The Nasdaq composite rose 27 points, also 0.6 percent, 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 percent.