Stocks move higher as company earnings impress

AP News
Posted: Apr 29, 2014 9:52 AM

NEW YORK (AP) — Stock prices are moving higher in early trading as more companies deliver strong earnings reports.

Merck and Ameriprise Financial were among the corporations reporting better-than-expected earnings. Merck rose 3 percent and Ameriprise rose 5 percent.

The Standard & Poor's 500 index rose eight points, or 0.5 percent, to 1,877 in the first few minutes of trading Tuesday.

The Dow Jones industrial average rose 80 points, or 0.5 percent, to 16,525. The Nasdaq composite increased 18 points, or 0.5 percent, to 4,093.

Some companies disappointed investors with their results. Coach slumped 8 percent after the luxury goods maker said its profit fell in the first three months of the year.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.72 percent.