Yahoo, PNC among early winners among US stocks

Stock indexes are opening higher after more U.S. companies reported solid earnings and some encouraging news about China's economy.

Yahoo soared 8 percent after the company said it was benefiting from its lucrative investments in Asia and that its advertising sales were recovering.

PNC Financial rose 1 percent after reporting earnings that were better than analysts were expecting.

The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 1,850 in the first few minutes of trading Wednesday.

The Dow Jones industrial average gained 83 points, or 0.5 percent, to 16,346 and the Nasdaq rose 14 points, or 0.4 percent, to 4,047.

Markets rose in Asia and Europe after China reported that its economy slowed less than many had feared in the first quarter.

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