NEW YORK (AP) — Stocks are rising in early trading after Intel and JPMorgan Chase provided upbeat outlooks on the economy.
The pair of Dow Jones industrial average components both reported better-than-expected first quarter profit. Each also plans to add workers this year as the economy continues to recover.
The market is also getting a boost Wednesday from a Commerce Department report that says consumers are ramping up spending. Retail sales rose 1.6 percent in March. Economists were expecting a 1.2 percent jump.
In early trading, the Dow is up 29.63, or 0.3 percent, at 11,049.05. The Standard & Poor's 500 index is up 4.42, or 0.4 percent, at 1,201.72, while the Nasdaq composite index is up 16.19, or 0.7 percent, at 2,482.18.
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