MARKET SNAPSHOT: U.S. Stocks Tick Up; Yahoo Rallies

By Carla Mozee, MarketWatch

NEW YORK (MarketWatch) -- After a shaky start, U.S. stocks edged higher on Wednesday, adding to sharp gains from the previous two sessions, which have sent the S&P 500 above its key, 200-day moving average.

All eyes were on earnings, as several heavyweights, such as Boeing Co., Dow Chemical and Biogen Idec Inc., reported ahead of the opening bell.

The S&P 500 (SPX) rose 6 points, or 0.3%, to 1,945.67. The Dow Jones Industrial Average (DJI) gained 25 points, or 0.2%, to 16,637.29. The Nasdaq Composite (RIXF) added 12 points, or 0.3% to 4,431.74.

(Read more in our Need to Know column: http://www.marketwatch.com/story/icahn-says-buying-apple-is-a-no-brainer-and-a-first-ever-for-the-vix-2014-10-22.)

Data: U.S. consumer prices rose slightly in September owing to higher costs for food and housing, but inflationary pressures continue to be held in check by falling energy expenses. The uptick was in line with expectations.

Earnings: Boeing (BA) shares fell 1.7% despite beating profit expectations. The aerospace company again raised its earnings forecast for the year.

Dow Chemical (DOW) shares climbed 1.4% after the company's adjusted third-quarter earnings of 72 cents a share came in above the FactSet consensus estimate of 67 cents. Revenue also exceeded analyst forecasts of $14.32 billion.

Biotech firm Biogen Idec (BIIB) reported better-than-expected third-quarter results and lifted its full-year earnings outlook. Shares had been up in premarket trade after the report, but later dropped 8%.

Yahoo Inc. (YHOO) shares rose 4.7%, after the online search provider posted better-than-expected third-quarter results late Tuesday.

Stocks to watch: Tekmira Pharmaceuticals Corp. (TKMR) shares popped up 11% ahead of the bell, with the company saying it has started limited manufacturing of a new therapeutic drug targeting the Ebola virus. Supply of the product will be available in early December 2014 "for potential use by various collaborators," said Tekmira.

Interdealer broker BGC Partners Inc. (BGCP) plans to make a hostile bid to buy rival GFI Group Inc.(GFIG) for $675 million, The Wall Street Journal reported, according to people familiar with the matter.

Tesla Motors Inc. (TSLA) fell slightly after Daimler AG on Tuesday said it has sold its 4% stake in the electric car maker.

Other markets: In Asia, Japanese stocks pushed higher, putting the Nikkei Average up by 2.6%. European stocks and the euro (EURUSD) retreated after a Spanish news report that 11 banks will fail the European Central Bank's stress tests. The results are due Sunday.

Gold futures (GCZ4) fell $6.4 an ounce and oil futures (CLZ4) edged up. The dollar (USDJPY) traded slightly lower against the yen.

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