Solid corporate earnings drive stocks higher in midday trade; Comcast, Lockheed among gainers

NEW YORK, N.Y. – U.S. stocks are moving higher in midday trading as more companies turn in solid earnings reports.

Comcast rose 2 per cent after reporting higher profits than investors were expecting. The giant cable TV company signed up more subscribers for Internet service.

Defence contractor Lockheed Martin also rose 2 per cent after the company’s income and revenue beat analysts’ forecasts.

The Standard & Poor’s 500 index rose 11 points, or 0.6 per cent, to 1,984 in midday trading Tuesday.

The Dow Jones industrial average gained 69 points, or 0.4 per cent, to 17,121. The Nasdaq composite rose 36 points, or 0.8 per cent, to 4,460.

European markets rose. The DAX in Germany and the CAC-40 in France both rose 1 per cent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.48 per cent.