Business

An early gain for stocks, driven by strong company earnings

Posted October 22, 2015 7:00 am

The Associated Press

NEW YORK (AP) - Stocks are moving higher in early trading after some encouraging results from McDonald's, eBay and other companies.

European stocks also rose Thursday after the head of the European Central Bank said the bank will consider expanding its stimulus program in December. The euro fell against the dollar.

In the U.S., eBay jumped 10 percent after reporting results that came in well ahead of what analysts were expecting. McDonald's gained 7 percent after reporting sales gains.

American Express sank 5 percent after its results fell short of forecasts.

The Dow Jones industrial average climbed 130 points, or 0.8 percent, to 17,297 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index increased 13 points, or 0.7 percent, to 2,032. The Nasdaq composite rose 29 points, or 0.6 percent, to 4,870.

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