Mattel, Coke send US stocks up

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IOL wall street

Strong earnings reports from Mattel, Coca-Cola and other big companies are helping to push the stock market up at the opening of trading.

The Dow Jones industrial average is up 64 points to 12,791 shortly after the opening bell Tuesday.

The Standard & Poor's 500 index gained six points to 1,360 and the Nasdaq composite added 15 points to 2,913.

Mattel, the biggest US toy maker, said net income rose on better sales of Barbie dolls and lower advertising costs. Coca-Cola posted stronger profits and sales than Wall Street expected, thanks in part to booming business overseas.

Goldman Sachs also reported earnings and revenue that beat Wall Street's forecasts.

Later this morning, Federal Reserve Chairman Ben Bernanke will give his semiannual report to Congress. - Sapa-AP


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