The Shadow
Stocks are opening higher on Wall Street following better than expected technology earnings reports.
Software company Oracle Corp. and BlackBerry maker Research In Motion Ltd. each reported strong earnings that beat analysts’ expectations after the markets closed Thursday.
Oracle’s results suggested companies are becoming less reluctant to spend on technology projects.
Investors have been looking for signs that a nine-month advance in the stock market is justified by economic improvement. But as year-end approaches many investors are also eager to secure gains for 2009.
The Dow Jones industrial average is up 43, or 0.4 percent, at 10,351.26, the Standard & Poor’s 500 index is up 4.89, or 0.5 percent, at 1,100.97, and the Nasdaq composite index is up 17.65, or 0.8 percent, at 2,197.70.
