World News | Stocks Rise Early as GM, Others Report Strong Earnings
Get latest articles and stories on World at LatestLY. Stocks are rising on Wall Street boosted by a rebound in technology companies and a number of strong earnings reports.
New York, May 5 (AP) Stocks are rising on Wall Street boosted by a rebound in technology companies and a number of strong earnings reports.
The S&P 500 index rose 0.3 per cent early Wednesday, a day after dropping 0.7 per cent. Shares of General Motors rose 4 per cent after the automaker earned nearly USD 3 billion in the first quarter.
Video game maker Activision and apparel company Under Armour also rose after reporting better-than-expected results. Bond yields pulled back after payroll processor ADP reported jobs growth below economists' expectations. That helped to ease inflation worries and gave a boost to technology stocks. Shares of communications and consumer-focused companies also were among the early gainers. (AP)
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