Markets Right Now: Stocks open mostly higher, led by tech

Markets Right Now: Stocks open mostly higher, led by tech
FILE - In this April 12, 2019, file photo specialist Peter Mazza, left, and trader Jonathan Corpina, center, work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Wednesday, April 17. (AP Photo/Richard Drew, File)

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

9:35 a.m.

Stocks are opening mostly higher in early trading on Wall Street Wednesday, led by technology and industrial companies.

After gaining 23% Tuesday, mobile chipmaker Qualcomm is up another 17% after it settled a legal dispute with Apple. In a related move, Intel is pulling out of the smartphone modem market. Its shares are rising 2.4%.

T-Mobile and Sprint are both lower on reports the Justice Department is questioning their proposed merger.

Among companies reporting quarterly results, IBM is down 5% while United Continental is up 4% and Netflix shares are flat.

The S&P 500 index is up 5 points, or 0.2%, to 2,912.

The Nasdaq is up 35 points, or 0.5%, to 8,044. However, the Dow Jones Industrial Average is down 21 points, or 0.1%, to 26,431.