Strong earnings reports from big companies including Procter & Gamble and Starbucks are sending stock indexes higher in midday trading on Wall Street.

The Dow Jones industrial average rose 42 points to 13,867 as noon Friday.

The Standard & Poor's 500 was up four points at 1,499 and the Nasdaq gained 12 points to 3,142.

Procter & Gamble, world's largest consumer products maker, rose after reporting that its quarterly income more than doubled. Starbucks reported late Thursday that its profit rose 13 percent in the latest quarter.

The S&P 500 broke through 1,500 Thursday for the first time since December 2007, extended its streak of gains to seven days, the longest since October 2006.