Markets Right Now: US stocks open with modest gains

Specialist John Parisi watches the numbers near the close of trading on the floor of the New York Stock Exchange, Thursday, Dec. 27, 2018. U.S. stocks

Specialist John Parisi watches the numbers near the close of trading on the floor of the New York Stock Exchange, Thursday, Dec. 27, 2018. U.S. stocks

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

9:35 a.m.

Stocks are opening higher Friday as U.S. markets try to maintain the momentum from a late-day rally on Thursday.

The Dow Jones Industrial Average rose 61 points to 23,199, while the S&P 500 gained 5 points to 2,493. The Nasdaq slipped 2 points to 6,576.

On Thursday, the Dow erased a 600 point loss and finished with a gain of 260 points. The swing was indicative of the volatility that has gripped the stock market throughout December.

Even with recent gains, the Dow and S&P 500 are down around 9 percent for the month.

Tesla rose about 2 percent after naming two independent directors to its board under an agreement with federal regulators.

U.S. benchmark oil rose 1.1 percent to $45.08 a barrel, giving a modest boost to energy stocks.