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Stocks open higher for first day in three

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Stocks open higher for first day in three
Submitted by Fox First at Ten on January 9th

By The Associated Press

Stocks are rising on Wall Street after U.S. corporate earnings reports got off to a strong start.

The Dow Jones industrial average rose 49 points to 13,378 shortly after the opening bell Wednesday. The Dow is coming off of two days of losses.

The Standard & Poor's 500 index rose three to 1,460 and the Nasdaq composite rose six to 3,098.

Alcoa rose after predicting rising demand for aluminum this year. Late Tuesday the company reported fourth-quarter revenue that beat analysts' forecasts.

Wireless network operator Clearwire jumped 8 percent after Dish network made an unsolicited offer to buy the company, which has already agreed to sell itself to Sprint.

Apollo Group plunged 10 percent after reporting a sharp decline in fall-term student sign-ups at the University of Phoenix.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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