In this Oct. 10, 2011 photo, trader Douglas Glander, center, works on the floor of the New York Stock Exchange. U.S. stock index futures are rising after a round of solid corporate earnings reports. Industrial giant General Electric Co. said Friday, Oct. 21, 2011, that its third-quarter net income rose 18 percent. Software maker Microsoft Corp. said its profit rose 6 percent. Traders are monitoring European leaders' efforts to solve the Greek debt crisis. Worries about a default by Greece have caused much of the market's volatility in recent months. (AP Photo/Richard Drew)
In this Oct. 10, 2011 photo, trader Douglas Glander, center, works on the floor of the New York Stock Exchange. U.S. stock index futures are rising after a round of solid corporate earnings reports. Industrial giant General Electric Co. said Friday, Oct. 21, 2011, that its third-quarter net income rose 18 percent. Software maker Microsoft Corp. said its profit rose 6 percent. Traders are monitoring European leaders' efforts to solve the Greek debt crisis. Worries about a default by Greece have caused much of the market's volatility in recent months. (AP Photo/Richard Drew)
Stocks are rallying after McDonald's and other large corporations reported solid third-quarter earnings.
The S&P 500 index closed higher Friday for the third straight week, as hope builds that a weekend meeting will bring European leaders closer to easing the region's debt troubles.
Fast-food giant McDonald's Corp. rose 3 percent after reporting a 9 percent increase in income. The government also said unemployment fell last month in half of all U.S. states
The Dow Jones industrial average jumped 267 points, or 2.3 percent, to 11,809.
The S&P 500 added 23, or 1.9 percent, to 1,238. The Nasdaq composite index gained 39, or 1.5 percent, to 2,638.
More than six stocks rose for every one that fell on the New York Stock Exchange. Trading volume was average at 4.3 billion.
Associated Press
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