Tech companies propel US stocks to early gains; Intel jumps

NEW YORK (AP) — Technology companies are leading U.S. stocks higher at the open Friday, led by a sharp gain for chipmaker Intel. Investors continue to monitor developments in the international effort to contain the deadly new virus outbreak in China. The S&P 500 rose 4 points, or 0.1%, to 3,330 and the Nasdaq rose 37 points, or 0.4%, to 9,439. The Dow Jones Industrial Average gained 108 points, or 0.4%, to 29,268. Dow component American Express rose nearly 5% after posting strong fourth-quarter results. Bonds rose and the yield on the 10-year Treasury fell to 1.72% from 1.74% a day earlier.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

Global stock markets rose Friday after the outbreak of a new virus in China that that has killed 25 people and led to transport limits in several cities was not declared a global emergency.

Germany's DAX gained 1.4% to 13,577 while the CAC 40 in Paris rose 1.1% to 6,038, helped also by a report of improvements in manufacturing data. A survey of manufacturing activity in the eurozone reported Friday suggested demand is stabilizing despite weakness in some regions.

In Britain, the FTSE 100 also gained 1.6%, to 7,630. Wall Street likewise looked set for an upbeat open, with the future contracts for the S&P 500 and the Dow Jones Industrial Average up 0.3%.

As authorities confirmed more cases of the new virus first reported in the central Chinese city of Wuhan, investors continued to monitor developments in the international effort to keep it from spreading further and potentially harming the global economy.

Japan's Nikkei 225 index rose 0.1% to 23,827.18 and in Hong Kong the Hang Seng gained 0.2% to 27,949.64 in a shortened session. Australia's S&P ASX/200 picked up 2.5 points to 7,090.50, while the...