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Stocks Rise Monday On Stronger-Than-Expected Earnings Reports
Stocks rose Monday on word of a handful of better-than-expected earnings reports.
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NEW YORK (October 19, 2009)-- Investors found a fresh appetite for stocks Monday as a handful of earnings reports revived hopes that the economy is improving.
Stocks ended at new highs for the year Monday as industrial equipment maker Eaton Corp. said it was seeing improvement in key markets.
Newspaper publisher Gannett Co. posted a profit despite a sharp fall in revenue.
A drop in the dollar is pushing up commodity prices, which helped energy and materials stocks.
The Dow was up 96 at 10,092.
The Standard & Poor's 500 index was up 10 at 1,098.
The Nasdaq composite index was up 20 at 2,176.
More than two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.1 billion compared with 1.4 billion Friday.
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