Thursday, May 8, 2014
NEW YORK (AP) — Stocks are edging higher in early trading after investors were mostly pleased by the latest U.S. corporate earnings news.
The Standard & Poor's 500 index rose 3 points, or 0.2 percent, to 1,881 in the first few minutes of trading. The index is about nine points below the all-time high it set April 2.
The Dow Jones industrial average increased 37 points, or 0.2 percent, to 16,557. The Nasdaq composite rose seven points, or 0.1 percent, to 4,072.
Twenty-First Century Fox jumped 7 percent after the company reported earnings and revenue that were higher than investors were anticipating.
Tesla Motors fell 9 percent after the electric car maker reported a $49.8 million first-quarter loss.
Bond prices fell. The yield on the 10-year Treasury note climbed to 2.61 percent.