Markets Right Now: Earnings drive early gains for US stocks

AP News
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Posted: Jan 31, 2018 9:43 AM

NEW YORK (AP) — The latest on developments in financial markets (All times local):

9:35 a.m.

Stocks are opening solidly higher on Wall Street after a number of big U.S. companies reported strong quarterly earnings.

Boeing jumped 6 percent in early trading Wednesday. The aerospace giant has been the biggest gainer in the Dow Jones industrial average over the past year.

Xerox rose 10.5 percent after reporting a strong quarter of its own. Chipmaker Advanced Micro Devices rose 4.7 percent and Electronic Arts rose 8.6 percent.

The early gains recovered some of the ground the market lost a day earlier, when it had its biggest drop since August.

The Standard & Poor's 500 index rose 15 points, or 0.6 percent, to 2,837.

The Dow rose 238 points, or 0.9 percent, to 26,318. The Nasdaq climbed 48 points, or 0.7 percent, to 7,451.