Stocks open higher for first day in three

AP News

1/9/2013 9:47:19 AM - AP News

Stocks are rising on Wall Street after U.S. corporate earnings reports got off to a strong start.

The Dow Jones industrial average rose 49 points to 13,378 shortly after the opening bell Wednesday. The Dow is coming off of two days of losses.

The Standard & Poor's 500 index rose three to 1,460 and the Nasdaq composite rose six to 3,098.

Alcoa rose after predicting rising demand for aluminum this year. Late Tuesday the company reported fourth-quarter revenue that beat analysts' forecasts.

Wireless network operator Clearwire jumped 8 percent after Dish network made an unsolicited offer to buy the company, which has already agreed to sell itself to Sprint.

Apollo Group plunged 10 percent after reporting a sharp decline in fall-term student sign-ups at the University of Phoenix.