US stocks edge higher in early trading

Earnings from Google, Honeywell and other big companies lift US stocks in early trading

Associated Press
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In this Monday, June 30, 2014 photo, trader John Liotti, center, and specialist Donald Civitanova, right, work on the floor of the New York Stock Exchange. World stocks were mostly higher Wednesday, July 2, 2014, on improved U.S. and Chinese economic activity. (AP Photo/Richard Drew)

U.S. stocks edged higher in early trading Friday after Google, Honeywell International and other big companies reported their quarterly earnings. The market was recovering a day after being rattled by the downing of a passenger jet over eastern Ukraine and Israel's launch of a ground offensive into Gaza.

KEEPING SCORE: The Dow Jones industrial average added 54 points, or 0.3 percent, to 17,031 in the first 45 minutes of trading. The Standard & Poor's 500 index rose eight points, or 0.4 percent, to 1,966. The Nasdaq composite gained 31 points, or 0.7 percent, to 4,394.

GLOBAL CONCERNS: Global events knocked stock markets down on Thursday. The S&P 500 index sank 1.2 percent, its biggest one-day drop since April. All three major stock indexes ended lower for the first time in a week, but remained near record highs and positive for the year.

GOOGLE IT: The Internet giant reported higher quarterly earnings and revenue late Thursday. Google's revenue rose 22 percent even as advertising rates continued to drop. Although Google still makes most of its money from Internet searches, the company is generating more revenue from other sources such as YouTube and its "Play" store that sells applications for devices running its Android software. Google's stock added $14.03, or 2.4 percent, to $594.85.

SWEET RESULTS: Honeywell International added 79 cents, or 0.8 percent, to $96.96 after reporting that its income rose sharply in the latest quarter and beat investors' forecasts.

TAKING OFF: Several airline companies rebounded in early trading Friday after tumbling a day earlier following the news of the downed Malaysian Airlines airliner. American Airlines Group rose $1.08, or 2.6 percent, to $42.78, while Delta Air Lines added 94 cents, or 2.6 percent, to $37.51. United Continental gained $1.13, or 2.6 percent, to $44.48. Southwest Airlines rose 31 cents, or 1.1 percent, to $27.82.

EUROPE: Most major stock markets headed lower Friday. Germany's DAX slipped 0.6 percent while France's CAC-40 dipped 0.1 percent. Britain's FTSE 100 was off 0.7 percent.

BONDS AND OIL: Bond prices fell. The yield on the 10-year Treasury note rose to 2.47 percent from 2.45 percent late Thursday. Benchmark U.S. crude oil fell 49 cents to $102.70 a barrel on the New York Mercantile Exchange.

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