Stocks up as more companies report strong results

AP News
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Posted: Oct 28, 2014 12:20 PM

NEW YORK (AP) — The stock market is moving higher at midday as U.S companies announce positive earnings.

The Standard & Poor's 500 index rose 10 points, or 0.6 percent, to 1,972 as of 12:15 p.m. Tuesday. The Dow Jones industrial average gained 57 points, or 0.3 percent, to 16,876.

Investors are watching quarterly results roll in this week from a large group of companies. They are also waiting for Wednesday's policy announcement from the Federal Reserve, which could offer clues about the central bank's plans for raising interest rates. The Fed is also winding down its $4 trillion bond-buying program.

Amgen rose 6 percent after announcing better-than-expected earnings. Twitter dropped 10 percent after the company reported results that raised concerns about its user growth and holiday revenue.