Markets Right Now: Stocks turn higher on strong earnings
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are rising at the opening bell following solid results from a string of companies including IBM and Procter & Gamble.
Technology and consulting company IBM rose 7.2 percent Wednesday after it topped Wall Street’s expectations in the fourth quarter. Consumer products maker Proctor & Gamble jumped 6.4 percent.
Elevator and jet engine maker United Technologies climbed 6.1 percent.
The S&P 500 index added 15 points, or 0.6 percent, to 2,648 after it fell 1.4 percent Tuesday.
The Dow Jones Industrial Average jumped 251 points, or 1 percent, to 24,655. The Nasdaq composite gained 44 points, or 0.6 percent, to 7,064.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.77 percent.