Rally at the Open on Strong Earnings, Carnival Lower on Ebola Fears

Stocks rallied at the opening bell on strong earnings, economic data and hopes the Federal Reserve may delay tapering. Home Starts in September rose 6.3%. Construction last month was roughly in line with what economists had expected at a seasonally adjusted annual rate of 1.01 million homes. Morgan Stanley (MS) blew away the Street’s expectations for its third-quarter earnings. The bank’s income more than doubled, earning $0.84 a share. General Electric (GE) was also higher at the open after posting its quarterly profit rose 11%. GE’s earnings were helped by cost-cutting and strength from its aviation and oil and gas businesses. Google (GOOG) missed estimates showing a slowdown in its advertising business. The web-search provider posted Q3 profit was down 5% from a year ago. Carnival (CCL) is a stock to watch. Shares are slipping in early trading after the cruise-line operator confirmed a passenger on one of its ships handled testing specimens from the Texas Ebola victim Thomas Duncan. The health care worker is quarantined and being monitored for signs of the infection.