Stocks sharply higher at midday

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Associated Press

Posted on November 23, 2012 at 11:04 AM

Updated Friday, Nov 23 at 11:33 AM

NEW YORK (AP) — The stock market is enjoying some Black Friday cheer.

The Dow Jones industrial average is up 111 points at 12,948 just before lunch. The market will close early, at 1 p.m. EST, because of the holiday weekend. The Standard & Poor's 500 index is up 12 points at 1,403. The Nasdaq composite index is up 33.

Wal-Mart stock is up 1.4 percent on the first day of the traditional holiday shopping season. Traders are also encouraged by positive economic news from Germany and China, two engines of global growth.

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