Markets Right Now: Earnings send US stocks to more records

NEW YORK – The latest on developments in financial markets (All times local):

4:00 p.m.

Strong earnings from big U.S. companies helped drive stock indexes further into record territory.

Financial stocks rose more than the rest of the market Thursday. Regions Financial rose 3.5 per cent.

Energy stocks also climbed as the price of crude oil headed higher.

Several companies rose after reporting better results than analysts were expecting. Kellogg and Viacom rose 4 per cent.

Twitter plunged 12 per cent after delivering a weak forecast and revenue that fell well short of estimates.

The Standard & Poor’s 500 index rose 13 points, or 0.6 per cent, to 2,307.

The Dow Jones industrial average gained 118 points, or 0.6 per cent, to 20,172. The Nasdaq composite rose 32 points, or 0.6 per cent, to 5,715.

Small-company stocks outpaced the market. The Russell 2000 jumped 19 points, or 1.5 per cent, to 1,378.

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11:45 a.m.

Stock indexes were trading at record highs as investors weighed earnings from Kellogg, Viacom and other big U.S. companies.

Financial stocks led the gainers in midday trading Thursday. Regions Financial rose 3 per cent.

Energy stocks also rose as the price of crude oil headed higher. Newfield Exploration gained 2.5 per cent.

Utilities lagged the market.

Kellogg, Viacom and Equifax all posted solid gains after reporting results that easily beat analysts’ forecasts.

Twitter plunged 10 per cent after delivering a weak forecast and revenue that fell well short of estimates.

The Standard & Poor’s 500 index rose 13 points, or 0.6 per cent, to 2,308.

The Dow Jones industrial average gained 129 points, or 0.7 per cent, to 20,183. The Nasdaq composite rose 37 points, or 0.7 per cent, to 5,719.

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9:35 a.m.

Stocks are opening modestly higher on Wall Street as investors found several bright spots in the latest batch of company earnings.

Kellogg, Viacom and Equifax all posted solid gains in early trading Thursday after reporting results that easily beat analysts’ forecasts.

Not all the earnings news was good. Twitter plunged 11 per cent after delivering a weak forecast and revenue that fell well short of estimates.

Energy companies rose along with the price of oil.

The Standard & Poor’s 500 index rose 4 points, or 0.2 per cent, to 2,298.

The Dow Jones industrial average gained 35 points, or 0.2 per cent, to 20,089. The Nasdaq composite rose 14 points, or 0.3 per cent, to 5,696.