Markets Right Now: Banks, energy lead early gains for stocks

NEW YORK (AP) – The latest on developments in financial markets (All times local):

9:35 a.m.

Stocks are opening broadly higher on Wall Street, led by gains in banks and energy companies.

Investors were encouraged Wednesday by a report that private employers stepped up hiring in the U.S. last month.

Panera Bread jumped 13.6 percent after the company agreed to be acquired by JAB Holdings, which also owns Peet’s Coffee & Tea and Krispy Kreme Doughnuts.

The Standard & Poor’s 500 index rose 6 points, or 0.3 percent, to 2,366.

The Dow Jones industrial average gained 77 points, or 0.4 percent, to 20,771. The Nasdaq composite increased 13 points, or 0.2 percent, to 5,912.

Bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.37 percent.