US stocks rally, breaking a weeklong losing streak

NEW YORK – U.S. stocks are rallying in midday trading, breaking a weeklong slump.

European markets also jumped Wednesday as hopes built for a break in the impasse between Greece and its creditors over extending the country’s bailout loans.

Technology stocks had some of the biggest gains. Intel, IBM and Microsoft rose the most in the Dow Jones industrial average.

The Dow gained 254 points, or 1.4 percent, to 18,017 as of noon Eastern time. The gain erased the Dow’s loss for the year.

The Standard & Poor’s 500 index rose 25 points, or 1.2 percent, to 2,105. The Nasdaq composite rose 64 points, or 1.3 percent, to 5,078.

Bond prices fell. The yield on the 10-year Treasury note rose as high as 2.49 percent, its highest level of the year.

This story was originally published June 10, 2015 at 11:09 AM with the headline "US stocks rally, breaking a weeklong losing streak."