Markets Right Now: US stocks are opening solidly higher

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

9:35 a.m.

Stocks are opening solidly higher on Wall Street, led by gains in technology companies.

Microsoft and Facebook each rose 1 percent in early trading Wednesday.

Most sectors were higher except for banks. Bank of America lost 1 percent.

NRG Energy soared 16 percent after announcing plans to raise up to $4 billion through asset sales in bid to lower debt.

The Standard & Poor’s 500 index rose 16 points, or 0.7 percent, to 2,441.

The Dow Jones industrial average climbed 130 points, or 0.6 percent, to 21,538. The Dow was trading above it latest record high close.

The Nasdaq composite rose 49 points, or 0.8 percent, to 6,242.

Bond prices rose. The yield on the 10-year Treasury fell to 2.31 percent.