NEW YORK, N.Y. – Stocks are moving higher in midday trading as investors liked what they saw in the latest U.S. corporate earnings reports.
A decrease in unemployment claims also suggested the job market is continuing to improve.
The Standard & Poor’s 500 index rose nine points, or 0.5 per cent, to 1,887 as of noon Thursday. The index is three points below the all-time high it set April 2.
The Dow Jones industrial average increased 85 points, or 0.5 per cent, to 16,603. The Nasdaq rose 37 points, or 0.9 per cent, to 4,105.
Twenty-First Century Fox rose 6 per cent after its results beat analysts’ estimates.
Tesla Motors fell 7 per cent after the electric car maker reported a $49.8 million first-quarter loss.
Bond prices held steady. The yield on the 10-year Treasury note was 2.58 per cent.