Stocks Shoot Higher At Opening Bell

By: Tom Skinner
By: Tom Skinner

Stock prices are climbing. The Dow Jones Industrial Average is up more than 112 points in today's early going.

The Nasdaq Composite Index is ahead 33 points and the Standard-and-Poor's 500 Stock Index is up 14 points.

Wall Streeters are taking heart this morning from hints from a top Federal Reserve official that more interest rate cuts could be in the cards.

Fed Vice Chairman Donald Kohn says recent turbulence in the financial markets has reversed some of the improvement seen in previous weeks, and could squeeze credit for households and businesses. That, he says, may merit "offsetting" policy from the central bank.

In economic news, the Commerce Department reports orders for durable goods fell for a third straight month during October.

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