Strong earnings drive stocks higher on Wall Street

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Associated Press

Posted on April 23, 2013 at 11:01 AM

Updated Tuesday, Apr 23 at 12:02 PM

NEW YORK (AP) — Strong earnings across a range of industries are driving stocks higher in midday trading.

Makers of handbags, jet planes and chemical products turned in good results for the first quarter, reviving investors' confidence after a sharp downturn last week.

Coach, Lockheed Martin, DuPont and Travelers rose after reporting results that were better than analysts expected.

The Dow Jones industrial average and the Standard & Poor's 500 index both rose nearly 1 percent, putting them on track for a third straight day of gains and closer to the record high closes they reached almost two weeks ago.

The Dow was up 142 points at 14,709 at midday Tuesday.

The S&P 500 was up 16 points at 1,578. The Nasdaq rose 39 points to 3,272.

Apple reports earnings after the closing bell.

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