Stocks move higher in early trading following more positive earnings surprises; Wal-Mart gains

NEW YORK, N.Y. – Stocks are opening higher as traders welcome some more positive corporate earnings news.

Wal-Mart Stores rose 3 per cent, the most in the Standard & Poor’s 500 index, after reporting income and revenue early Thursday that came in ahead of what analysts were expecting.

Media conglomerate Viacom also rose 2 per cent after its own results topped forecasts.

The S&P 500 rose four points, or 0.2 per cent, to 2,043 as of 9:35 a.m. Eastern time.

The Dow Jones industrial average rose 47 points, or 0.3 per cent, to 17,661. The Nasdaq composite rose 12 points, or 0.3 per cent, to 4,687.

Crude oil fell 84 cents to $76.35 a barrel. The price is at a four-year low as supplies rise.

The yield on the 10-year Treasury note held steady at 2.36 per cent.