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US Stocks Jump after strong corporate earnings

By: AP
By: AP


(AP) Stocks are rising at midday after big U.S. companies posted strong quarterly profits and the Spanish government reassured investors with a successful debt auction.

Coca-Cola leapt 2.6 percent Tuesday after the company said its profit rose 8 percent in the first three months of the year, topping the forecasts of Wall Street analysts.

European markets surged after the Spanish government sold more than (euro) 3.2 billion ($4.2 billion) in short-term debt, more than had been expected. The yield on Spain's 10-year government bond fell to 5.86 percent from 6.10 percent early Monday, a sign of improving confidence in the country's finances.

The Dow was up 169 points at 13,090 just before noon. The S&P 500 is up 17 at 1,386. The Nasdaq is up 46 at 3,034.

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