US stocks notch modest gains in early trading; Avon soars

US stocks notch modest gains in early trading; Avon soars


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NEW YORK (AP) — U.S. stocks are edging higher in early trading as several companies gain on earnings and deal news.

FedEx jumped 4 percent Thursday after reporting a surge in package deliveries. The company has predicted big gains in holiday season shipments.

Avon jumped 10 percent after agreeing to sell its North American business to Cerberus Capital Management, a private investment firm.

Mining companies fell along with the prices of gold and copper. Newmont Mining sank 6 percent.

The Dow Jones industrial average inched up eight points to 17,753 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index was flat at 2,071. The Nasdaq composite rose nine points, or 0.2 percent, to 5,079.

Bond prices rose. The yield on the 10-year Treasury note rose to 2.27 percent.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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The Associated Press

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