US stocks move higher after solid earnings from Yahoo; Encouraging news on China economy

Stocks are higher for a third day in a row after more U.S. companies report solid earnings and on encouraging news about China’s economy.

The Standard & Poor’s 500 index rose 19 points, or 1 per cent, to close at 1,862 Wednesday.

The Dow Jones industrial average rose 162 points, or 1 per cent, to 16,424. The Nasdaq rose 52 points, or 1.3 per cent, to 4,086.

Yahoo rose 6 per cent. The Internet pioneer said it was benefiting from its lucrative investments in Asia.

Airline stocks also rose sharply. Delta gained 5 per cent, jetBlue rose 6 per cent and American Airlines rose 5 per cent.

Bank of America fell 2 per cent after booking $6 billion in legal costs over its home loan practices.

The yield on the 10-year Treasury note rose to 2.64 per cent.

News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Associated Press

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.

Related Articles