Friday, April 24, 2009
Investors are setting aside some worries about the economy as quarterly results from Ford bring a glimmer of hope for the troubled auto industry.
Ford's loss wasn't as bad as analysts had forecast, and it used up much less cash during the first three months of the year than it did in the end of 2008. The stock is up 15%.
The market is also looking to potential news about the "stress tests" the government is giving 19 largest U.S. banks. Regulators will be holding private briefings with them Friday on how the tests will work.
At midday, the Dow Jones industrial average is up 123 at 8,082. The Standard & Poor's 500 index is up 14 at 866. The Nasdaq composite index is up 37 at 1,689.