Big gain in Visa drives Dow average higher

Staff Writer
Columbus CEO

NEW YORK (AP) — U.S. stock indexes are mostly higher as a parade of big companies turn in quarterly results.

The Dow Jones industrial average climbed more than 150 points as of midday Thursday, almost entirely thanks to a strong gain for Visa, the Dow's highest-priced stock.

The Standard & Poor's 500 index rose five points to 1,987 as of noon Eastern time. The Nasdaq composite fell four points, or 0.1 percent, to 4,545.

The Dow Jones industrial average rose 150 points, or 0.9 percent, to 17,125.

Visa announced earnings late Wednesday that beat analysts' expectations. The company also announced a big share buyback program.

Auto parts maker BorgWarner dropped 5' percent after reporting results that missed analysts' expectations.

The price of the 10-year Treasury note edged up. Its yield fell to 2.29 percent.