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Stocks Rise As Investors Assess Earnings

wochit business
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February 13, 2014 AT 2:20 PM
The stock market rose for the fifth time in six days Thursday as higher earnings from several big U.S. companies helped investors shrug off discouraging news about jobs and retail spending. Goodyear Tire & Rubber surged to its highest level in almost six years after the company's earnings beat analysts' forecasts. CBS also jumped after the broadcaster beat Wall Street's profit expectations and sped up its stock buyback program. Investors' focus has returned to company earnings after concerns about growth in emerging markets and the health of the U.S. economy pushed the Standard & Poor's 500 index to its lowest level in more than three months at the start of February. Analysts at S&P Capital IQ expect that earnings at companies in the index increased last quarter at the fastest pace in a year.