Gain in services sector lifts stocks; Dow up 140 late this morning

NEW YORK (AP) — Stocks rose early today after news that activity expanded in the U.S. services sector last month.

World markets also rose after the central bank of Japan suprised investors by slashing interest rates to near zero. Japanese shares jumped 1.5 percent, and European stocks also rose.

The Institute for Supply Management reported that the U.S. services industry grew slightly faster in September as demand from customers improved. It was the ninth straight month of expansion in services, which have been growing at a slower pace in the U.S. relative to the much smaller manufacturing sector.

In corporate news, Mexican broadcaster Grupo Televisa said it would invest $1.2 billion in Univision Communications, expanding a license deal between the Spanish-language media heavyweights. Televisa's U.S. shares rose 9.4 percent.

The Dow Jones industrial average is up 142.06 points, or 1.3 percent, to 10,893.33 in late morning trading.