Wednesday, Dec 07, 2016
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Stock Market

U.S. stocks move higher following earnings news

NEW YORK — The U.S. stock market is rising modestly in midday trading following a batch of earnings and corporate news.

The Dow Jones industrial average gained 33 points, or 0.2 percent, to 16,684 as of noon today. The Standard & Poor’s 500 index rose four points, or 0.2 percent, to 1,951.

The Nasdaq composite climbed eight points, or 0.2 percent, to 4,442.

Retailer Kohl’s rose 3 percent after reporting income that beat analysts’ expectations.

The Class A shares of Warren Buffett’s Berkshire Hathaway traded above $200,000 for the first time.

Cisco fell 2 percent after the network equipment maker reported lower sales and profits. Cisco also said it would lay off 8 percent of its workforce.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.41 percent.

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