Stocks Rise Sharply on Solid Corporate Earnings

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks are rallying after McDonald's and other large corporations reported solid third-quarter earnings.

The S&P 500 index closed higher Friday for the third straight
week, as hope builds that a weekend meeting will bring European
leaders closer to easing the region's debt troubles.

Fast-food giant McDonald's Corp. rose 3 percent after reporting
a 9 percent increase in income. The government also said
unemployment fell last month in half of all U.S. states

The Dow Jones industrial average jumped 267 points, or 2.3
percent, to 11,809.

The S&P 500 added 23, or 1.9 percent, to 1,238. The Nasdaq
composite index gained 39, or 1.5 percent, to 2,638.

More than six stocks rose for every one that fell on the New
York Stock Exchange. Trading volume was average at 4.3 billion.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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