Stocks rise after strong corporate earnings

NEW YORK (AP) — Stocks are rising slightly in early trading after another round of positive earnings from major U.S. companies.

Caterpillar Inc., Merck & Co. and Chevron Corp. all beat earnings forecasts for the first quarter today. Merck said its profit more than tripled because of much lower restructuring and merger costs. Caterpillar, the world’s largest maker of mining and construction equipment, said its earnings rose more than five-fold. It also raised its revenue and profit outlook for the year.

Chevron said its net income rose 36 percent, its best quarter since 2008.

At the opening, the Dow Jones industrial average is up 18, or 0.2 percent, at 12,782.

The Standard & Poor’s 500 is up less than a point at 1,361. The Nasdaq composite index is down a point at 2,871.