Markets Right Now: Stocks turn higher on strong earnings

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KUSI Newsroom

NEW YORK (AP) — The latest on developments in financial markets (all times local):

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9:35 a.m.

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.

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