NEW YORK, N.Y. – Stocks are moving higher in midday trading as investors respond to strong earnings from U.S. companies.
Nike rose 5 per cent and Darden Restaurants gained 3 per cent Friday after reporting results that beat analysts’ expectations.
Energy companies rose more than the rest of the market as the price of oil turned higher.
The Dow Jones industrial average rose 180 points, or 1 per cent, to 18,141 as of 11:45 a.m.
The Standard & Poor’s 500 index rose 19 points, or 0.9 per cent, to 2,108.
The Nasdaq composite rose 42 points, or 0.9 per cent, to 5,034. The Nasdaq is within 14 points of its dot-com era peak.
Crude oil rose $1.41 to $46.95 a barrel in New York.
Bond prices rose. The yield on the 10-year Treasury note fell to 1.94 per cent.