A day after a rout, US stocks turn higher on solid earnings
NEW YORK (AP) — Strong results from major companies including Microsoft, Visa and Comcast are sending U.S. stocks higher Thursday morning as the market found its footing after three weeks of steep declines.
The S&P 500 index rose 1 percent. It plunged 9 percent since early this month as investors worried about climbing interest rates and the effects of the U.S-China trade dispute.
Encouraging economic data helped stabilize markets. The Commerce Department said orders to U.S. factories for major manufactured goods grew in September, and the increase was larger than analysts expected.