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US Stocks Rise on Earnings Reports     10/24 09:16

   U.S. stocks rose again Friday, putting the market on track for the best week 
in almost two years.

   NEW YORK (AP) --- U.S. stocks rose again Friday, putting the market on track 
for the best week in almost two years. Amazon plunged after the company 
reported dismal third-quarter results, but that wasn't enough to drag the rest 
of the market down.

   KEEPING SCORE: The Dow Jones industrial average rose 43 points, or 0.3 
percent, to 16,719 as of 9:55 a.m. Eastern. The Standard & Poor's 500 index 
rose five points, or 0.3 percent, to 1,956 and the Nasdaq composite is up 14 
points, or 0.3 percent, to 4,467.

   CLEARANCE: Amazon dropped $24, or 8 percent, to $289.33 after the company 
reported a steeper-than-expected loss. The deficit came despite a large 
increase in sales from a year ago. Investors have been getting impatient with 
Amazon, which has been unable to deliver profits even as its gains ground as 
one of the world's largest retail companies.

   FED MEETING: Investors will increasingly turn their focus to next week's 
Federal Reserve policy meeting for confirmation that the U.S. central bank is 
ending its bond-buying program. That policy has kept interest rates extremely 
low to support an economic recovery. It has also helped drive stock prices 
higher as investors sought higher returns. Recent mixed signals about the 
strength of the U.S. recovery prompted speculation that the Fed might let the 
program continue for longer than previously anticipated.

   GREAT WEEK: After the turbulence in the market last week, U.S. stocks are on 
pace for their best week in nearly two years. The S&P 500 is up 3.5 percent so 
far this week, the biggest gain since January 2013.

   TO THE REPAIR SHOP: Ford fell 46 cents, or 3 percent, to $13.94 after the 
company reported a steep drop in profits. Net income dropped 34 percent to $835 
million in the third quarter, mostly due to the costs of launching its new 
F-150 truck.

   ENERGY: Benchmark U.S. crude oil was down $1.01 at $81.13 a barrel on the 
New York Mercantile Exchange. It had jumped Thursday on reports of lower 
production in Saudi Arabia and signs of strength in the U.S. economy.

   CURRENCIES, BONDS: The euro edged up to $1.2659 from $1.2650. The dollar 
slipped to 107.97 yen from 108.17 yen. Bond prices rose. The yield on the 
10-year Treasury note fell to 2.25 percent.


(KA)


 
 
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