|Page (1) of 1 - 04/17/12||email article||print page|
Strong earnings from big US companies give stocks an early boost; housing permits jump
Stocks are opening higher on Wall Street after positive news about U.S. corporate earnings and the homebuilding industry.
Goldman Sachs raised its quarterly dividend Tuesday as a measure of profit doubled to more than $2 billion. Coca-Cola also beat expectations. Cost cuts by Johnson & Johnson lifted that company's net income.
The government said the number of permits requested by builders for future projects have reached a 3 -year high. That suggests the housing market might stop weighing down the economy.
Other housing data and industrial production results were somewhat weaker.
The Dow Jones industrial average is up 122 points, nearly one percent, at 13,043. The Standard & Poor's 500 index is up 11 at 1,380. The Nasdaq composite index is up 24 at 3,012.