NEW YORK (AP) – Stocks are turning higher in early trading Wednesday on strong earnings reports and a rise in crude oil prices. Several energy companies are rising sharply after getting a beat-down the day before. Oil-rig operator Transocean is up 5 percent.
KEEPING SCORE: The Dow Jones industrial average rose 40 points, or 0.2 percent, to 17,004 as of 10:19 a.m. Eastern time. The Standard & Poor’s 500 index climbed five points, or 0.3 percent, to 1,984. The Nasdaq composite increased two points, or less than 0.1 percent, to 4,651.
FLYING HIGH: Air Transport Services jumped $2.71, or 23 percent, to $14.48 after turning in solid results and saying it will operate an air transport network for Amazon.
CHOW WOW: Pet-food company Blue Buffalo Pet Products rose $3.04, or 16 percent, $21.60 after posting strong earnings.
OIL BOOST: Crude oil continued its climb from 13-year lows earlier this year. A barrel of benchmark U.S. crude was up 63 cents, or 1.7 percent, to $37.13 a barrel. Brent crude, which is used to price international oils, rose 61 cents, or 1.5 percent, to $40.26 a barrel.