Policy: Economy

Stock market mostly higher as earnings pour in

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Associated Press,Economy,Wall Street,Financial Markets

Stocks are mostly higher on Wall Street as upbeat earnings news from several big U.S. companies encouraged investors.

General Electric, Morgan Stanley and PepsiCo all moved higher after reporting their first-quarter results Thursday.

The Standard & Poor's 500 index rose two points, or 0.1 percent, to close at 1,864.

A drop in IBM's stock pulled the Dow Jones industrial average lower. UnitedHealth Group also weighed on the Dow.

The Dow fell 16 points, or 0.1 percent, to 16,408. The Nasdaq composite rose nine points, or 0.2 percent, to 4,095.

Three stocks rose for every two that fell on the New York Stock Exchange.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.72 percent from 2.63 percent late Wednesday.

U.S. markets will be closed for Good Friday.

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