Markets Right Now: Technology stocks gain in early trading

May 31, 2017 at 10:04a.m.

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

Stocks are opening with tiny gains on Wall Street as technology stocks again take the lead.

Chipmaker Analog Devices jumped 5.3 percent early Wednesday after reporting earnings that were much higher than analysts were expecting.

Other technology stocks also rose. Texas Instruments rose 1 percent.

Phone companies were also higher. Verizon rose 0.7 percent.

The Standard & Poor’s 500 index inched up 1 point, less than 0.1 percent, to 2,41.

The Dow Jones industrial average slipped 2 points, less than 0.1 percent, to 21,025.

The Nasdaq composite rose 13 points, or 0.2 percent, to 6,216. The Nasdaq, which is heavily weighted with technology stocks, was trading at a record high.