Stocks marched higher in late morning trading on Wall Street Thursday as investors focused on several solid earnings reports after a late bout of selling the day before.
Investors are nearing the end of a busy week that included Wednesday’s widely anticipated quarter-point cut to the Federal Reserve’s key interest rate. The market reacted with disappointment over the central bank’s caution over future rate cuts. Major indexes are on track for weekly losses.
The steady flow of corporate earnings continued and several big-name companies reported surprisingly good results.