Stock gains approach record

The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks are opening broadly higher on Wall Street, erasing the market's losses from May and setting the S&P 500 on course to reach another record high.

Technology, health care and industrial companies led the way higher in early trading on Thursday. Every sector rose.

The gains came a day after the Federal Reserve said it was ready to cut interest rates if needed to protect the U.S. economy.

The S&P 500 index rose 25 points, or 0.9 per cent, to 2,952. That's about seven points above its record high close on April 30.

The Dow Jones Industrial Average added 212 points, or 0.8%, to 26,718. The Nasdaq rose 82 points, or 1%, to 8,070.

Bond prices rose. The yield on the 10-year Treasury note fell to 2%.

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