Stocks rise, helped by Chinese data, Apple results
Source: AP-Excite
By KEN SWEET
NEW YORK (AP) — U.S. stocks were solidly higher in early trading Tuesday, the market's fourth straight day of advances, following an encouraging report on the Chinese economy as well as strong quarterly earnings from Apple and other big companies.
KEEPING SCORE: The Dow Jones industrial average rose 102 points, or 0.6 percent, to 16,502 as of 10:52 a.m. Eastern. The Standard & Poor's 500 index rose 24 points, or 1.3 percent, to 1,928 and the Nasdaq composite rose 70 points, or 1.6 percent, to 4,386.
CHINA RELIEF: China's economy expanded by 7.3 percent in the third quarter from a year earlier. Although growth slowed slightly from the previous quarter's 7.5 percent, analysts had expected a more marked slowdown, to 6.9 percent.
China has been a worry spot for investors for many weeks now and has been a reason why financial markets have been volatile lately. With Europe's economy clearly slowing down, what investors don't need is for China so slow down substantially as well.
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In this Oct. 8, 2014 photo, a man walks to work on Wall Street, near the New York Stock Exchange, in New York. Stocks are opening higher Tuesday, Oct. 21, 2014 after several big companies reported results that pleased investors. (AP Photo/Mark Lennihan)
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