The stock market rose for the fifth time in six days Thursday as higher earnings from several big U.S. companies helped investors shrug off discouraging news about jobs and retail spending.
Goodyear Tire & Rubber surged to its highest level in almost six years after the company's earnings beat analysts' forecasts. CBS also jumped after the broadcaster beat Wall Street's profit expectations and speeded up its stock buyback program.
Investors' focus has returned to company earnings after concerns about growth in emerging markets and the health of the U.S. economy pushed the Standard & Poor's 500 index to its lowest level in more than three months at the start of February. Analysts at S&P Capital IQ expect that earnings at companies in the index increased last quarter at the fastest pace in a year.
"The momentum from earnings continues," said Andres Garcia-Amaya, a global market strategist at JPMorgan Funds.
The Standard & Poor's 500 index rose 0.58 percent to 1,829.83. The Dow Jones industrial average climbed 63.65 points to 16,027.59. The Nasdaq composite rose 0.94 percent to 4,240.67. -- AP