Markets Right Now: Solid earnings send US stocks higher
NEW YORK (AP) – The latest on developments in financial markets (all times local):
World stock markets are turning sharply higher, helped by strong earnings reports from major U.S. companies.
Investment banks Morgan Stanley and Goldman Sachs, health care products company Johnson & Johnson and health insurer UnitedHealth all climbed after announcing their third-quarter results.
Technology companies are also rising after their recent slump. Microsoft rose 2.8 percent.
The S&P; 500 index jumped 38 points, or 1.4 percent, to 2,789.
The Dow Jones Industrial Average climbed 342 points, or 1.4 percent, to 25,595. The Nasdaq composite added 137 points, or 1.8 percent, to 7,568.
Bond prices were little changed. The yield on the 10-year Treasury note held steady at 3.16 percent.