News Summary: Stocks rise on stronger earnings

AP News
Posted: Jul 18, 2012 5:39 PM
News Summary: Stocks rise on stronger earnings

NEW YORK (AP) — TECH GAINS: A big rise by Intel after it posted a strong earnings report drove up technology stocks, especially other chip makers. Those companies, plus industrials, were responsible for much of the gains in the market Wednesday. The Dow Jones industrial average rose 103 points to 12,909.

HELP FROM HOUSING: The government reported that builders broke ground last month on the most new homes and apartments in nearly four years. The 6.9 percent jump brought the number of housing starts to the highest since October 2008.

DOW NOW UP FOR THE MONTH: So far this year, the blue-chip index is up 5.7 percent, but it has mostly fallen this month. Thanks to Wednesday's gain, it's back in the black for July, but barely — 0.2 percent.