Earnings Gains Send Stocks Higher
NEW YORK (AP) — Stocks are rising in midday trading after earnings gains at major U.S. companies including Ford.
The Dow Jones industrial average was up 84 points, or 0.6 percent, at 15,497 as of noon Eastern time Thursday.
The Standard & Poor’s 500 index was up four points, or 0.3 percent, at 1,750. The Nasdaq composite was up 19 points, or 0.5 percent, at 3,926.
It’s a busy week for corporate earnings.
Ford rose 27 cents, or 1.5 percent, to $17.79 after posting record earnings for the third quarter and raising its profit forecast for the whole year. Revenue increased 12 percent.
Southwest Airlines rose 46 cents, or 3 percent, to $16.88 after its third-quarter profit rose. Average fares were higher and fuel costs fell.