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News Summary: Earnings lift stocks

The Associated Press

STRONG EARNINGS: A good day for earnings pushed stocks higher. The Dow Jones industrial average, the Standard & Poor's 500 index and the Nasdaq composite rose for a third straight day.

HANDBAGS AND INSURERS: The advance was led by stocks that tend to benefit the most from an improving economy, such as banks and so-called consumer discretionary stocks like retailers. Coach, the maker of luxury handbags, jumped 10 percent to $55.55 after its earnings beat analysts' expectations and the company raised its dividend.

FAKE TWEET: A fake tweet posted by hackers through The Associated Press' Twitter account sent stocks and other markets into a brief swoon during early afternoon trading. The posting said that there had been explosions at the White House and that President Barack Obama had been injured. Markets recovered their losses within minutes.