Markets right now: Solid earnings drive gains for US stocks

Economic IndicatorsAssociated Press

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

11:45 a.m.

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Stocks moved higher in midday trading after several big U.S. companies reported strong quarterly results.

Boeing jumped 6 percent Wednesday. The aerospace giant has been the biggest gainer in the Dow Jones industrial average over the past year.

Technology companies accounted for much of the gain, outweighing losses in health care and other sectors.

Chipmaker Advanced Micro Devices rose 5.1 percent and Electronic Arts rose 7.6 percent.

The market was coming off a two-day losing streak and its biggest drop since August.

The Standard & Poor's 500 index rose 4 points, or 0.1 percent, to 2,826.

The Dow rose 134 points, or 0.5 percent, to 26,209. The Nasdaq climbed 14 points, or 0.2 percent, to 7,416.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.74 percent.

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9:35 a.m.

Stocks are opening solidly higher on Wall Street after a number of big U.S. companies reported strong quarterly earnings.

Boeing jumped 6 percent in early trading Wednesday. The aerospace giant has been the biggest gainer in the Dow Jones industrial average over the past year.

Xerox rose 10.5 percent after reporting a strong quarter of its own. Chipmaker Advanced Micro Devices rose 4.7 percent and Electronic Arts rose 8.6 percent.

The early gains recovered some of the ground the market lost a day earlier, when it had its biggest drop since August.

The Standard & Poor's 500 index rose 15 points, or 0.6 percent, to 2,837.

The Dow rose 238 points, or 0.9 percent, to 26,318. The Nasdaq climbed 48 points, or 0.7 percent, to 7,451.

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