Stocks rise as investors assess earnings; Fox up

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Associated Press

Posted on May 8, 2014 at 10:02 AM

Updated Thursday, May 8 at 10:02 AM

NEW YORK (AP) — Stocks are moving higher in midday trading as investors liked what they saw in the latest U.S. corporate earnings reports.

A decrease in unemployment claims also suggested the job market is continuing to improve.

The Standard & Poor's 500 index rose nine points, or 0.5 percent, to 1,887 as of noon Thursday. The index is three points below the all-time high it set April 2.

The Dow Jones industrial average increased 85 points, or 0.5 percent, to 16,603. The Nasdaq rose 37 points, or 0.9 percent, to 4,105.

Twenty-First Century Fox rose 6 percent after its results beat analysts' estimates.

Tesla Motors fell 7 percent after the electric car maker reported a $49.8 million first-quarter loss.

Bond prices held steady. The yield on the 10-year Treasury note was 2.58 percent.

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