US stocks open higher
NEW YORK (AP) — The stock market is starting the holiday week with a big gain.
Just after the opening bell on Wall Street, the Dow Jones industrial average is up 102 points at 12,690. The Standard & Poor's 500 index is up 12 at 1,372. And the Nasdaq composite index is up 32 to 2,885.
European markets are sharply higher. Financial analysts say it's because of optimism that leaders in the United States will reach a deal to avoid the so-called fiscal cliff, a package of tax increases and government spending cuts set to take effect Jan. 1.
U.S. investors are also encouraged by corporate earnings reports. Lowe's says its third-quarter profit surged 76 percent. That's after a strong report from Home Depot last week. Tyson Foods also beat Wall Street expectations.
News Photo Galleriesview all
- 88863Oklahoma tornadoes: The 'Big Dog,' the little boy and the hug that triumphs over tragedy
- 16945OKC Thunder: Kevin Durant tours Moore, meets with residents
- 12611Oklahoma tornadoes: ‘All I could do was sit there and hold her'
- 12094Clippers' Donald Sterling hints coach let go to keep Chris Paul
- 9737Oklahoma tornado: Names of dead released; missing individuals located
- 9076Oklahoma tornadoes: Red Cross text donations not designated for Oklahoma
- 8890Oklahoma tornadoes: Love for Oklahoma generates big donation