Stocks open higher on Wall Street; Mattel jumps

Stocks are opening higher on Wall Street after several big-name U.S. companies posted strong results for the third quarter.

The Dow Jones industrial average was up 70 points at 13,491 shortly after the opening bell Tuesday.

The Standard & Poor's 500 index rose six points to 1,446 and the Nasdaq composite rose nine points to 3,072.

Toy maker Mattel jumped 4 percent after reporting that brisk sales of American Girl dolls and Fisher-Price toys sent the company's profit well above analysts' forecasts. The stock was up $1.20 to $36.62.

Johnson & Johnson rose 93 cents to $59.63 after its revenues came in ahead of Wall Street's forecasts.

IBM, CSX and Intel report after the bell.

The yield on the benchmark 10-year Treasury note rose to 1.70 percent from 1.67 percent.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-10-16-Wall%20Street-Open/id-a274354a82a84bb19d96d6da7dd0f1dd

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