Summary Box: Europe hopes push stocks higher

AP News
Posted: Oct 26, 2011 5:11 PM
Summary Box: Europe hopes push stocks higher

EUROPE: Stocks turned higher after Agence France-Presse reported that China has agreed to invest in Europe's financial rescue fund, which will be used to support struggling countries and banks in the European Union.

EARNINGS Boeing Co. led the Dow higher. Boeing rose 4.5 percent after reporting a bigger profit for its latest quarter than analysts expected. It also raised its forecast for 2011 earnings.

ECONOMY: Strong economic reports also helped send stocks higher. Businesses ordered more heavy machinery and other long-lasting manufactured goods last month. Sales of new homes rose in September after falling for four straight months.