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Apr 25, 12:01 PM EDT

Markets Right Now: Solid earnings drive stocks higher


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The latest on developments in financial markets (All times local):

11:45 a.m.

Stocks are moving higher on Wall Street after Caterpillar, McDonald's and other big companies reported solid earnings.

Caterpillar jumped 6.9 percent in midday trading Tuesday, while McDonald's rose 5 percent.

Biotech drug maker Biogen leapt 4.3 percent after its own results also came in ahead of forecasts.

The Standard & Poor's 500 rose 14 points, or 0.6 percent, to 2,388.

The Dow Jones industrials gained 242 points, or 1.2 percent, to 21,006. The Nasdaq composite climbed 40 points, or 0.7 percent, to 6,024, its first move above 6,000 points.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.31 percent.

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9:35 a.m.

Solid earnings reports and outlooks from several big companies sent U.S. stocks higher in morning trading.

Heavy equipment maker Caterpillar jumped 6.4 percent early Tuesday after reporting earnings that beat forecasts and raising its outlook for the year.

Biotech drug maker Biogen leapt 4.4 percent after its own results also came in ahead of forecasts.

The Standard & Poor's 500 rose 9 points, or 0.4 percent, to 2,383.

The Dow Jones industrials gained 183 points, or 0.9 percent, to 20,946. The Nasdaq composite climbed 22 points, or 0.4 percent, to 6,006, its first move above 6,000 points.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.31 percent.

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