The Joplin Globe, Joplin, MO

Business

April 20, 2012

US stocks open higher with stronger earnings

NEW YORK — Stocks are opening higher with profits from General Electric, McDonald’s and other major U.S. corporations coming in better than expected. Optimism from Europe is helping brighten the mood.

The Dow Jones industrial average is up 80 points to 13,044 minutes after the opening bell. The Standard & Poor’s 500 index is up five points to 1,383. The Nasdaq composite index is up 12 points to 3,019.

All three indexes appear to be headed for weekly gains.

Earnings at General Electric beat expectations Friday. The industrial giant posted more than $3 billion in quarterly profits. Orders for locomotives, aircraft engines and other equipment jumped.

McDonald’s, the world’s biggest hamburger chain, said that profits in the first quarter rose 7 percent. Its stock is up 1.7 percent in early trading.

 

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