1:00AM New York – Rising earnings lift U.S. averages.

U.S. stocks held on to their early gains after three hours of trading. Dow Jones added Nasdaq increased, and S&P 500 edged higher

Earnings news dominated the trading sentiment in the morning.

Apple jumped 7% or $11 to $185.31 after reporting 67% increase in earnings and 29% rise in sales.

Burlington Northern (BNI) added $3.50 to $86.50 after reporting earnings per share of $1.48 compared to $1.33 from a year ago. Freight revenue increased 4% or $133 million to $3.95 billion and operating income increased 9% to $1 billion. Agricultural products shipment rose 10% to all time high of $682 million on 8% increase in volume for wheat, ethanol, fertilizer, and bulk food.

Western Union (WU) reported third quarter revenue rose 10% to $1.3 billion and earnings declined 16% to $216.3 million from $258.1 million a year ago. Earnings per share declined to 29 cents from 34 cents a year ago. Western union stock jumped $1.27 to $20.57 after the news.

Coach (COH) reported first quarter net sales increased 28% to $677 million and net income increased to $154.8 million from $125.6 million from a year ago. Earnings per share increased 32% to 41 cents from 31 cents a year ago. Coach stock fell 11% to $36.72.

T Rowe Price Group, Inc (TROW) reported third quarter net revenue of $571 million up from $452 million, earnings per share increased to $175 million from $128 million and earnings per share increased to 63 cents from 46 cents a year ago. Revenue in the quarter jumped 27% and earnings increased 37% in the period.

Investment advisory revenues earned from the T. Rowe Price mutual funds distributed in the United States increased to $348 million for the third quarter of 2007, up $77.5 million from the comparable 2006 quarter. Mutual fund assets increased $9.0 billion during the third quarter of 2007, and ended the quarter at $246.3 billion.

Market appreciation and income added $5.3 billion to the mutual funds during the quarter, while investors added net inflows of $3.7 billion. Net cash inflows were spread among the funds, with the international and global stock funds adding $1.4 billion, the U.S. stock and blended asset funds adding $1.2 billion, and the bond and money market funds adding $1.1 billion.

The New Asia, New Income, Growth Stock, Blue Chip Growth and Equity Index 500 funds each added more than $.5 billion during the quarter.

T Rowe stock jumped 4% to $57.34 in mid-day trading.

9:00AM New York – Market averages are pointing higher opening on earnings and a sharp rally in Asia and Europe.

Market averages futures in New York are pointing higher opening. Dow Jones Industrial Average is trading up 40 to 13,650, Nasdaq 100 futures are up 17 to 2188.75, and S&P 500 futures are ahead by 3 to 1,517.

In the overnight trading, Asian markets surged lifted by a surge in India, Indonesia, Hong Kong, and Korea. India surged 5% after the government softened the ban on derivative trading. Indonesia and Hong Kong added 4%.

European markets at mid-day are trading 1% higher across the region. Norway index with a rise of 1.8% is leading the region followed by increases of 1% or more in France, UK, and Switzerland.

Apple reported 67% rise in earnings on 29% increase in sales. Apple surged nearly $10 or 7% in the pre-market trading to $187.

Du Pont (DD) third quarter net income increased 8.5%. Net income rose to $526 million from $485 million or earnings per share increased to 56 cents from 52 cents a year ago. Revenue in the quarter rose 6% to $7.04 billion.

AT&T (T) third quarter earnings increased 41%.

UAL, the parent of United Airlines increased 76% on 6.8% rise in $5.53 billion. The quarterly earnings increased to $334 million from $190 million or earnings per share increased to $2.21 from $1.30.

BP (BP) reported third quarter profit declined 29% to $4.41 billion from $$6.23 billion or earnings per share fell to 23.1 cents from 31.4 cents. Revenue in the quarter increased 2.7% to $72.6 billion.