BUSINESS

Stocks rise on Wall Street as US companies report higher profits; Dow back above 15,000 points

05/07/2013 12:09 EDT | Updated 07/07/2013 05:12 EDT
NEW YORK, N.Y. - Stocks are rising on Wall Street as more U.S. companies report higher profits. The Dow Jones industrial average rose back above 15,000.

The Dow was up 36 points at 15,004, as of noon Eastern Daylight Time Tuesday, an increase of 0.2 per cent. The Dow first crossed above 15,000 on Friday.

The Standard & Poor's 500 index gained three points to 1,621, or 0.2 per cent. The Nasdaq composite edged down three points to 3,389, a loss of 0.1 per cent.

Satellite TV company DirecTV and the watchmaker Fossil were among the companies reporting higher profits Tuesday. Both stocks rose sharply.

Markets are trading at record levels on optimism that the U.S. economy is recovering and as the Federal Reserve maintains its stimulus program. The Dow is up 14.6 per cent this year.