(As of 7:30 am PST)
Stocks are on the rise in early action as earnings from big names dominated headlines. Apple kicked things off after the bell yesterday reporting earnings that beat analyst estimates. The iPhone maker reported a remarkable sales number of 39.2 million iPhones last quarter. Shares of Apple were up 2% to pace tech stock gains. Shares of Chipotle and McDonalds took a beating after both food retailers reported disappointing earnings. Verizon also is making headlines this morning as the telecomm company reported profits that were just shy of estimates while sales were in line. In economic news, US existing home sales rose 2.4% in September rebounding from an unexpected drop in August and accelerating to the fastest pace in over a year. Asian markets finished the day mixed, while European indexes are poised for a strong close. Interest rates are inching higher today as are gold and oil prices. If the market can sustain gains throughout the day it would be the third straight session of positive trading after weeks of significant losses.
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