Thursday's midday trade: stocks soar on banks

US stocks rose on Thursday, putting the S&P on track for its third straight advance after earnings from Bank of America and Morgan Stanley lifted financials and strong demand at European bond auctions eased concerns over Europe. Bank of America Corp climbed 4.6 percent to $7.11 and was the top boost to both the benchmark S&P and the Dow Industrials.
The Dow Jones industrial average was up 15.89 points, or 0.13 percent, at 12,594.84. The Standard & Poor's 500 Index added 4.99 points, or 0.38 percent, at 1,313.03. The Nasdaq Composite Index gained 20.39 points, or 0.74 percent, at 2,790.10.