Stocks Open Day Higher
NEW YORK (AP) _ Stocks opened higher in early trading Wednesday, fueled by stronger-than-expected earnings from Internet giant Yahoo!
The Dow Jones industrial average was up 28.29 at 10,755.48 shortly after the opening bell, while the Nasdaq composite index was up 60.29 at 4,016.71.
The Standard & Poor’s 500 index was up 6.83 at 1,487.71.
With the second-quarter earnings season just getting under way, a strong showing from Yahoo! helped boost the overall market. Its solid quarter followed better-than-expected reports from International Paper and Alcoa earlier this week.
Yahoo!’s shares rose $13.125 to $118.625 in early trading.
Also higher on Wednesday was New York-based investment bank PaineWebber, which rose $17.312 to $67.25 after it announced that it was being purchased by Swiss banking group UBS.