US stock market rises in early trading after big earnings from Apple, Boeing

The U.S. stock market is opening high after impressive earnings from Apple and Boeing.

The Dow Jones industrial average rose 61 points, or 0.4 percent, to 17,448 in early trading Wednesday. The Standard & Poor's 500 climbed 12 points, or 0.6 percent, to 2,041. The Nasdaq jumped 55 points, or 1.2 percent, to 4,737.

Apple jumped 7 percent after reporting record iPhone sales and earnings in its latest quarter. It was one of the top gainers in the S&P 500. Boeing rose 3.4 percent after commercial-jet demand boosted its profit and helped it easily top expectations

Alibaba's stock fell 3.4 percent after Chinese regulators accused the e-commerce giant of allowing sales of fake goods and hurting consumers. Alibaba said that the regulator was biased and accused it of misconduct.