Stocks gain, boosted by P&G, Starbucks earnings

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Associated Press

Posted on January 25, 2013 at 1:01 PM

Updated Friday, Jan 25 at 1:04 PM

NEW YORK (AP) — Strong earnings reports from big companies including Procter & Gamble and Starbucks are sending stock indexes higher in midday trading on Wall Street.

The Dow Jones industrial average rose 42 points to 13,867 as noon Friday.

The Standard & Poor's 500 was up four points at 1,499 and the Nasdaq gained 12 points to 3,142.

Procter & Gamble, world's largest consumer products maker, rose after reporting that its quarterly income more than doubled. Starbucks reported late Thursday that its profit rose 13 percent in the latest quarter.

The S&P 500 broke through 1,500 Thursday for the first time since December 2007, extended its streak of gains to seven days, the longest since October 2006.

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