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NEW YORK (AP) — Better earnings and rising oil prices are pushing stocks higher in early Wall Street trading. Intel led the Dow Jones industrial average up after the maker of computer chips turned in higher earnings. Several energy companies rose along with the price of oil. Benchmark U.S. crude oil surged more than $1 on the New York Mercantile Exchange.
BRUSSELS (AP) — The European Union has charged Google with abusing its dominance in Internet searches and has opened a probe into its Android mobile system. The EU executive commission said it found that Google "gives systematic favorable treatment" to its Google Shopping at the expense of others in its general search results. Google could face billions of dollars in fines, if the European Union finds that the way the company does business in the 28-country bloc is illegal. Google denies the allegations. It has 10 weeks to respond to the allegations.
WASHINGTON (AP) — Output at U.S. factories rose last month for the first time since November, as auto production increased. The Federal Reserve says manufacturing output rose 0.1 percent in March, following a 0.2 percent drop in February. But the Fed said factory production fell 0.6 percent in January, twice what it originally reported. Overall industrial production fell 0.6 percent in March, pulled down by a 5.9 percent drop in utility output.
UNDATED (AP) — U.S. homebuilders are feeling more optimistic about their prospects for a strong spring home-selling season. The National Association of Home Builders/Wells Fargo builder sentiment index rose this month to 56, up four points from March. Readings above 50 indicate more builders view sales conditions as good, rather than poor. Builders' outlook for sales of single-family homes over the next six months climbed to its highest level since December.
OMAHA, Neb. (AP) — Railroad operator CSX says it won't deliver the double-digit profit growth it promised this year because coal demand remains weak. Executives remain optimistic about the railroad's prospects because service is improving, but they say they expect mid-to-high single-digit profit growth in 2015. After the close of trading yesterday, CSX reported that its first-quarter profit grew 11 percent as it benefited from lower fuel costs, exceeding Wall Street expectations.
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