News Summary: Stocks Rise With Stronger Earnings

The Associated Press

NEW YORK (AP) â¿¿ SUMMER BREAK: Stronger earnings reports from Mattel, Coca-Cola and other big companies pushed the Standard & Poor's 500 index up for only the fourth day this month.

MORE TOYS: Mattel jumped 10 percent. The country's biggest toy maker said net income rose on better sales of Barbie dolls and lower advertising costs.

BEN SPEAKS: In the first of two days of testimony, Federal Reserve Chairman Ben Bernanke told Congress that weaker economic growth probably means unemployment will remain stubbornly high. But he offered no signs that the Fed would take action to bolster growth soon.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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