Markets Right Now: Technology gains lead US stocks higher

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

9:35 a.m.

Stocks are opening slightly higher on Wall Street led by gains in Apple and other technology companies.

Apple jumped 5.1% in early trading Wednesday after reporting results the night before. Investors were encouraged to see that its sales in China had stabilized despite the worsening rhetoric between Washington and Beijing over trade.

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Later Wednesday investors will be closely watching a policy announcement from the U.S. Federal Reserve. The Fed is widely expected to cut its benchmark short-term interest rate for the first time since the financial crisis.

The S&P 500 index edged up 1 point to 3,015.

The Dow Jones Industrial Average rose 68 points, or 0.2%, to 27,270. The Nasdaq rose 11 points, or 0.1%, to 8,286.

The yield on the 10-year Treasury held steady at 2.06%.

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