Stocks get a lift at the open

NEW YORK (CNNMoney.com) -- U.S. stocks advanced at the start of trading Wednesday as investors appeared to cheer a report showing better-than-expected productivity.

The Dow Jones industrial average rose 0.5 percent. The Nasdaq composite index gained 0.6 percent. The Standard & Poor's 500 index was 0.6 percent higher.

A government report on productivity that showed a 1.8% rise in the fourth quarter was much stronger than the 0.5% rise economists surveyed by Briefing.com expected. The report well below the 6% improvement seen in the third quarter.

Among companies in the news at the open:

Time Warner: The owner of CNNMoney.com posted results that met analysts' expectations. The company expects slower earnings growth in 2008 that would be near forecasts. Stock (TWX, Fortune 500)

Walt Disney: The media company reported quarterly earnings late Tuesday that topped Wall Street's forecast. Stock (DIS, Fortune 500)

Toll Brothers: The luxury homebuilder reported preliminary figures that showed a sharp drop in sales as it warned that it is "not yet seeing much light at the end of the tunnel." Stock (TOL, Fortune 500)