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

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

12:05 p.m.

U.S. stocks are mostly higher Wednesday as technology and media companies lead a recovery from the turbulent trading seen the day before.

The S&P 500 index is rising 8 points, or 0.3 percent, to 2,771. The Nasdaq composite is up 65 points, or 0.9 percent, to 7,790. The Russell 2000 index of smaller stocks is building on the record set Tuesday, up 11 points, or 0.7 percent, to 1,705.

However, the Dow Jones industrial average could be heading for a seventh straight losing session. The Dow is down 12 points to 24,687.

Twenty-First Century Fox is jumping after it agreed to a new deal with Disney, which will buy Fox's entertainment businesses for more than $70 billion. Other media companies are rallying as investors hope for more deals.

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9:35 a.m.

U.S. stock markets are opening higher Wednesday as investors set aside fears about a U.S. trade war with China for the moment.

The Dow Jones industrials are up 30 points, or 0.1 percent, to 24,730, after falling 287 points Tuesday. The Dow has dropped for six straight days.

The S&P 500 index is up 8 points, or 0.3 percent, to 2,771 and the Nasdaq composite is rising 45 points, or 0.6 percent, to 7,770.

Global markets were shaken Tuesday as the U.S. and China escalated their trade dispute with fresh threats of tariffs, although U.S. stocks recovered most of their losses by the end of trading.

Markets in Asia and Europe recovered some of Tuesday's losses. U.S. crude oil is up 1.3 percent, after dropping 1.2 percent a day earlier.