Stocks gain ground on Wall Street on solid earnings reports
NEW YORK (AP) — Stocks rose in morning trading on Wall Street Thursday as traders cheered strong earnings reports from several big U.S. companies.
The S&P 500 rose 0.8%, the Dow Jones Industrial Average rose 0.7% and the Nasdaq rose 0.8%.
American Airlines jumped 7.3% after telling investors it expects to turn a profit in the second quarter as more people return to travel. That upbeat outlook helped push rival airlines higher, as well as other companies within the travel industry.
Tesla jumped 8.3% after the maker of electric cars and solar panels reported strong sales and a seven-fold increase in profits despite global supply chain kinks.