Stocks edge higher on earnings gains, Europe hopes
Source: AP-EXCITE
By BERNARD CONDON
NEW YORK (AP) — Good news on corporate earnings nudged U.S. stocks higher Wednesday morning, a day after the Standard and Poor's 500 index had its best day of the year. Investors were also encouraged by a government report showing U.S. inflation is low and by hopes for new stimulus measures from the European Central Bank.
KEEPING SCORE: The Dow Jones industrial average barely moved, up just seven points to 16,662 as of 11:07 a.m. Eastern time. The S&P 500 climbed three points, or 0.2 percent, to 1,944 and the Nasdaq composite climbed seven points, or 0.2 percent, to 4,426.
YAHOO SURGE: Yahoo jumped $2.41, or 6 percent, to $42.59 after reporting encouraging third-quarter results late Tuesday. Yahoo got a windfall from the recent IPO of Alibaba, the giant Chinese online retailer that Yahoo owns a stake in. Revenue rose slightly from the previous year, a welcome change for a company that has been posting quarterly declines for most of the past five years.
BROADCOM JUMPS: The semiconductor company jumped 7 percent, the largest gain in the S&P 500, after reporting earnings late Tuesday that topped Wall Street estimates. The stock rose $2.62 to $39.95.
FULL story at link.
Specialist Michael Gagliano, left, calls out prices as he works at his post on the floor of the New York Stock Exchange, Wednesday, Oct. 22, 2014. Stocks are opening mixed as investors look over earnings reports from U.S. companies. (AP Photo/Richard Drew)
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