NEW YORK (AP) — Earnings from Cisco and hopeful signs in a housing report are nudging the stock market higher. The Dow Jones industrial average is up 46 points to 13,211 at midday.
Cisco Systems is leading the Dow, rising 8 percent. The world's largest maker of computer networking equipment reported earnings that beat expectations and also raised its quarterly dividend to 14 cents per share from 8 cents.
The Commerce Department reported that construction of single-family homes dipped in July compared with June. But market analysts are seizing on another number: Building permits jumped to 812,000, the most since August 2008 and a hint of stronger construction in the coming months.
The broader Standard & Poor's 500 index is up five points to 1,410. The Nasdaq composite index is up 19 to 3,049.