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US stocks open higher; GE, Morgan Stanley gain

By WTOP Staff

The Associated Press

Stocks are rising in early trading as investors welcome some good news on corporate earnings.

General Electric and Morgan Stanley each rose 3 percent in early trading after reporting earnings that beat analysts’ estimates.

The Dow Jones industrial average rose 162 points, or 1 percent, to 16,281 as of 9:35 a.m. Eastern time Friday.

The Standard & Poor’s 500 rose 19 points, or 1 percent, to 1,882. The Nasdaq composite rose 52 points, or 1.2 percent, to 4,268.

European markets rose sharply. France’s CAC 40 rose 2 percent and Germany’s DAX rose 1.7 percent

The price of oil rose 53 cents to $83.26 a barrel. It’s still down 3 percent for the week.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.19 percent.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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