US stocks move higher on earnings reports; Time Warner soars on Murdoch bid

The Associated Press
July 16, 2014 06:38 AM

FILE - This March 4, 2013 file photo shows a sign for Wall Street on the side of building near the New York Stock Exchange, in New York. European stocks advanced Wednesday July 16, 2014 after China's economic growth picked up slightly in the second quarter but Asian markets were lukewarm about the data that largely fitted expectations. (AP Photo/Mark Lennihan, File)

NEW YORK, N.Y. - Stocks are opening higher following strong earnings results from big U.S. companies.

Time Warner soared 15 per cent on news that Rupert Murdoch's Twenty-First Century Fox had made a bid for the media giant.

Intel jumped 5 per cent after reporting a surge in earnings as companies spent more on replacing PCs.

Investors are keeping an eye on Federal Reserve Chair Janet Yellen, who is testifying to Congress for a second day.

The Dow Jones industrial average rose 65 points, or 0.4 per cent, to 17,125 in the first few minutes of trading Wednesday.

The Standard & Poor's 500 index rose nine points, or 0.5 per cent, to 1,982. The Nasdaq rose 29 points, or 0.7 per cent, to 4,445.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.56 per cent.


© Coast Reporter

Coast Reporter

Email to a Friend

Close

QUESTION OF THE WEEK POLL

Are you enjoying the summer heat wave?

or  view results

Popular Coast Reporter

Community Event Calendar


Find out what's happening in your community and submit your own local events.