Markets Right Now: Stocks rise as Hurricane Irma weakens

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

9:35 a.m.

Insurers and travel companies are rising sharply in early trading on Wall Street after Hurricane Irma didn’t turn out to be as destructive as many had feared.

Royal Caribbean Cruises rose 3 percent in early trading Monday, and Chubb gained 3.2 percent.

Technology companies were also rising in the early going. Apple added 1.2 percent and Facebook climbed 1.1 percent. Technology remains the highest-performing sector in the market this year.

Banks were also rising more than the rest of the market as bond yields jumped. Bank of America rose 1.2 percent.

The Standard & Poor’s 500 index rose 18 points, or 0.7 percent, to 2,479.

The Dow Jones industrial average rose 172 points, or 0.8 percent, to 21,479. The Nasdaq composite increased 66 points, or 1 percent, to 6,426.