57144
56426

Business  

US stocks move higher after solid earnings from Yahoo; Encouraging news on China economy

Stocks are higher for a third day in a row after more U.S. companies report solid earnings and on encouraging news about China's economy.

The Standard & Poor's 500 index rose 19 points, or 1 per cent, to close at 1,862 Wednesday.

The Dow Jones industrial average rose 162 points, or 1 per cent, to 16,424. The Nasdaq rose 52 points, or 1.3 per cent, to 4,086.

Yahoo rose 6 per cent. The Internet pioneer said it was benefiting from its lucrative investments in Asia.

Airline stocks also rose sharply. Delta gained 5 per cent, jetBlue rose 6 per cent and American Airlines rose 5 per cent.

Bank of America fell 2 per cent after booking $6 billion in legal costs over its home loan practices.

The yield on the 10-year Treasury note rose to 2.64 per cent.



More Business News

54042
Data from CryptoCompare
Recent Trending
55718
Okanagan Oldies
54517
Castanet Proud Member of RTNDA Canada
57238
Press Room
57238
55577