Dow Average Rises to 5-Year High Amid Debt-Ceiling Talks
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U.S. stocks rose, sending the Dow Jones Industrial Average to a five year-high, as House Republicans plan to vote next week on a temporary increase in the debt-limit and investors watched corporate earnings.
Morgan Stanley and General Electric Co. advanced at least 3.4 percent as earnings exceeded estimates. Intel Corp. dropped 6.3 percent as the world’s largest chipmaker reported a second straight quarter of declining sales. Capital One Financial Corp., the lender that gets more than half of its revenue from credit cards, sank 7.5 percent as profit missed projections.