Trader Richard Scardino, left, works on the floor of the New York Stock Exchange Thursday, Oct. 18, 2012. The U.S. stock market headed slightly lower on Thursday, following a leap in claims for unemployment benefits and weak results from American Express. (AP Photo/Richard Drew)
Google issues a bad report early, hurting Nasdaq
Trader Richard Scardino, left, works on the floor of the New York Stock Exchange Thursday, Oct. 18, 2012. The U.S. stock market headed slightly lower on Thursday, following a leap in claims for unemployment benefits and weak results from American Express. (AP Photo/Richard Drew)
By MATTHEW CRAFT
AP Business Writer /
October 18, 2012
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Better earnings from Johnson & Johnson and other companies, along with encouraging reports on industrial production and the housing market, have pushed the stock market higher this week. The Dow is up 1.6 percent and the S&P 500 is up 2 percent.
In other trading Thursday, the yield on the 10-year Treasury note was 1.83 percent, up from 1.82 percent Wednesday. The euro lost 0.4 cent against the dollar to $1.307. Crude oil fell 2 cents to $92.10 per barrel.
Among other stocks making big moves:
— EBay jumped $2.63, or 5.4 percent, to $50.83 after posting better net income and more revenue from its PayPal payments service and its online markets. The company also raised its full-year estimates for earnings and sales.
— Verizon Communications surged $1.06, or 2.4 percent, to $45.78. The company said its wireless division signed up more customers in the quarter. Verizon said its customers also added more devices to its Share Everything plan.
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