SAN FRANCISCO – Discount broker Charles Schwab Corp. said Friday its first-quarter profit surged as the economy and stock markets improved.

The results topped Wall Street’s expectations.

The San Francisco company said its net income rose to $243 million, or 20 cents a share, in the three months ended March 31, from $6 million, or less than a penny a share, in the year-ago period. The 2010 quarter included a $126 million reserve for class action lawsuits.

Revenue climbed 23 percent to $1.21 billion from $978 million.

On average, analysts polled by FactSet expected earnings of 19 cents per share on $1.18 billion in revenue.

All three of the company’s revenue sources_ net interest revenue, asset management and administration fees, and trading revenue — increased by double-digits from a year earlier.

Total client assets rose 10 percent to $1.65 billion, a record according to the company. And Schwab’s pre-tax profit margin climbed to 32.6 percent, the highest in nine quarters.

Chairman Charles Schwab said investors felt encouraged by upbeat economic indicators, job growth and rising stock markets, which increased 5 percent during the quarter. He noted that Schwab clients reduced the percentage of their assets held in cash to pre-recession levels.

“Although still choppy, the environment is improving and investors are actively engaged with us across all our businesses,” Schwab said.

The company said it ended March serving 8.1 million active brokerage accounts, 719,000 bank accounts, and 1.44 million retirement plan participants.

Company shares rose 25 cents to $18.47 in morning trading.

NEW YORK – Stock indexes gave up early losses and edged higher Wednesday after the Federal Reserve reported encouraging news on the economy. Manufacturing, consumer spending and corporate hiring increased in all 12 regions surveyed by the central bank.

Hans Olsen, chief investment officer at J.P. Morgan Private Wealth Management, said it was a good sign that the Fed’s regional economic report showed that more people were quitting their jobs.

“That only happens if people are starting to feel more confident about their job prospects,” Olsen said.

The Standard & Poor’s 500 index rose 0.25 point, or less than 0.1 percent, to 1,314.41. The Dow Jones industrial average rose 7.41, or 0.1 percent, to 12,270.99. The Nasdaq composite gained 16.73, or 0.6 percent, to 2,761.52.

Financial stocks fell broadly after the chief executive of JPMorgan Chase said the bank’s losses from mortgages will continue.

JPMorgan Chase & Co., the first big bank to release first-quarter earnings, reported net income that beat expectations. The company’s investment banking and credit card businesses did well, but its mortgage business remained weak. Chief executive Jamie Dimon said JPMorgan and other banks will likely pay more fees and penalties after investigations into foreclosure proceedings in all 50 states are finished.

JPMorgan lost 0.8 percent, Bank of America Corp. fell 1.5 percent and Wells Fargo & Co. lost 2.3 percent.

Stocks had risen in early trading after the government reported that retail sales rose 0.4 percent overall in March, though much of the gain was due to higher gas prices. It was the ninth straight month of increases.

President Obama outlined a proposal to cut the nation’s budget deficit by reducing spending on defense and the growth of Medicare spending, while raising taxes on high-earning Americans and cutting many tax loopholes.

Silgan Holdings Inc., a consumer packaging maker, jumped 19 percent after announcing that it had agreed to buy rival Graham Packaging Co. in a cash-and-stock deal valued at $1.28 billion. Graham jumped 33 percent.

iRobot Corp., the maker of the Roomba vacuum cleaning robot, jumped 13 percent after saying it had signed a $230 million contract with the U.S. Navy to develop small robotic vehicles.

Rising and falling shares were roughly even on the New York Stock Exchange. Consolidated volume came to 3.9 billion shares.

BANGKOK – World shares rose Friday after Wall Street advanced on news of an improving U.S. job market and higher corporate earnings, although an ongoing nuclear crisis in Japan and Western military action in OPEC-member Libya suggested an uneasy road ahead.

European shares rose on the heels of Asian gains. Britain’s FTSE 100 rose 0.3 percent to 5,899.11. Germany’s DAX was 0.5 percent up to 6,966.42, and France’s CAC-40 rose narrowly to 3,971.13. The dollar was up against the yen and the euro. Shares in New York were also headed higher ahead of the opening bell.

Futures augured gains on Wall Street. Dow Jones industrial futures were up 0.3 percent to 12,151 and S&P 500 futures rose 0.3 percent to 1,209.40.

The Nikkei 225 in Tokyo closed up 1.1 percent to 9,536.13 with automakers rising following recent steep losses that resulted from a catastrophic earthquake and tsunami that struck Japan on March 11. The disaster killed at least 18,000 people and all but wiped out the country’s northeastern coast, home to a crucial network of auto parts suppliers and plants.

Nissan Motor Co., which lost nearly 5 percent Thursday after saying it may move some engine production to the U.S. because of earthquake damage to a Japanese plant, was up 1.5 percent. Toyota Motor Corp., the world’s largest automaker, rose 1.9 percent after being pummeled in prior trading sessions.

Investors pushed up several construction-linked shares, expecting those companies to benefit once Japan begins rebuilding. Komatsu Ltd. rose 4.7 percent a day after announcing that production was resuming in quake-affected areas. Mitsubishi Heavy Industries Ltd. was up 2.3 percent.

Consumer electronics companies also clawed back recent losses with Sony Corp. up 3.3 percent, and Panasonic Corp. up 1.8 percent.

Analysts believe that a coordinated currency intervention earlier this month by the world’s top seven industrialized nations aided Japan’s exporters by keeping the yen stable.

“There’s been a strong rebound in markets after a very savage sell-off after the disasters in Japan,” said Tim Schroeders, who helps manage $1 billion at Pengana Capital Ltd. in Melbourne.

Markets were reassured by the central bank intervention that stabilized the yen, he said. The yen hit a record high against the dollar in the days following the quake.

“A level of confidence has been maintained in financial markets during an extremely volatile time,” Schroeders said.

Still, Japan continued to grapple with an avalanche of post-quake miseries, including its ravaged Fukushima Dai-ichi nuclear power plant. Two weeks after the disaster, officials were still struggling to stop radiation leaks that have already contaminated the air, the sea, food and even Tokyo tap water.

While a complete nuclear meltdown was avoided, Japanese companies still face a myriad of challenges in resuming normal output: rolling electricity blackouts, the possibility of aftershocks, anxiety over elevated levels of radiation, and restrictions on Japanese food products from the region affected by radiation. The Nikkei has lost 7 percent since the quake.

“Given the host of unprecedented issues, including ongoing nuclear plant problems, a power shortfall, and supply chain bottlenecks, we think the market will continue to be highly volatile,” said Citigroup Global Markets said in a report.

Elsewhere, the Hong Kong’s Hang Seng index rose 1.1 percent to 23,158.67 and South Korea’s Kospi moved 0.9 percent higher to 2,054.04, with investors snapping up high-tech shares. Samsung Electronics Co. Ltd. jumped 3.4 percent, Hynix Semiconductor Inc. was up 2.8 percent, and LG Electronics rose 1 percent.

Australia’s S&P/ASX 200 rose 0.9 percent to 4,742.60. Among gainers were mining giants Rio Tinto Ltd., up 0.5 percent., and BHP Billiton Ltd., up 0.1 percent after it announced a nearly $10 billion expansion to its iron ore and coal operations.

On Wall Street late Thursday, stronger corporate earnings and signs of a stronger job market lifted stocks. The U.S. government said fewer people applied for unemployment benefits last week, evidence that layoffs are slowing. The average number of unemployment filings over the last four weeks has dropped to its lowest level since July 2008.

Software company Red Hat Inc., chip maker Micron Technology Inc. and Chef Boyardee maker ConAgra Foods Inc. all reported profits that beat expectations. Earnings growth has been strong across U.S. companies, which are benefiting from lower costs and higher revenue overseas.

The Dow Jones industrial average rose 84.54 points to close at 12,170.56. The Standard & Poor’s 500 index rose 12.12 to 1,309.66. The Nasdaq composite index rose 38.12 points to 2,736.42.

Oil prices were up 10 cents to $105.70 a barrel as upheaval in the Middle East and signs of strong global demand kept crude near two-year highs. Benchmark crude for May delivery fell 15 cents to settle at $105.60 per barrel on the New York Mercantile Exchange on Thursday.

Crude prices have jumped 25 percent since anti-government protests in Libya that began last month shut down most of the OPEC nation’s crude output. Western-backed military operations have pounded Libyan strongman Moammar Gadhafi’s forces to prevent them from attacking civilians, but rebels have so far been unable to mount an offensive to overthrow the regime.

In currencies, the euro dropped to $1.4148 from $1.4183 late Thursday. The dollar edged up to 81.19 yen from 80.95 yen.

BANGKOK – Most Asian shares rose Friday after Wall Street posted gains on the heels of an improving job market and higher corporate earnings as investors closely monitored developments at a quake-stricken nuclear power plant in Japan.

The Nikkei 225 in Tokyo was up 0.7 percent to 9,496.00 with automakers rising following recent losses. Japan is grappling with radiation leaks from a crippled nuclear plant and power shortages following the March 11 earthquake and tsunami that devastated its northeastern coast.

Nissan Motor Co., which lost nearly 5 percent Thursday after saying it may move some engine production to the U.S. because of earthquake damage to a Japanese plant, was up 1.2 percent. Toyota Motor Corp., the world’s largest automaker, rose 0.8 percent after being pummeled in prior trading sessions.

Investors pushed up several construction-linked shares, expecting those companies to benefit once Japan begins rebuilding. Komatsu Ltd. rose 3.9 percent a day after announcing that production was resuming in quake-affected areas. Mitsubishi Heavy Industries Ltd. was up 1.7 percent.

Consumer electronics companies also clawed back recent losses with Sony Corp. up 2.8 percent, and Panasonic Corp. up 1.8 percent.

Analysts believe that a coordinated currency intervention earlier this month by the world’s top seven industrialized nations aided Japan’s exporters by keeping the yen stable.

“There’s been a strong rebound in markets after a very savage sell-off after the disasters in Japan,” said Tim Schroeders, who helps manage $1 billion at Pengana Capital Ltd. in Melbourne.

Markets were reassured by the central bank intervention that stabilized the yen, he said. The yen hit a record high against the dollar in the days following the quake.

“A level of confidence has been maintained in financial markets during an extremely volatile time,” Schroeders said.

Still, Japan continued to grapple with an avalanche of post-quake miseries, including its ravaged Fukushima Dai-ichi nuclear power plant. Two weeks after the disaster, officials were still struggling to stop radiation leaks that have already seeped into the air and water.

While a complete nuclear meltdown was avoided, Japanese companies still face a myriad of challenges in resuming normal output: rolling electricity blackouts, the possibility of aftershocks, anxiety over elevated levels of radiation, and restrictions on Japanese food products from the region affected by radiation.

“Given the host of unprecedented issues, including ongoing nuclear plant problems, a power shortfall, and supply chain bottlenecks, we think the market will continue to be highly volatile,” said Citigroup Global Markets said in a report.

Elsewhere, the Hong Kong’s Hang Seng index rose 0.9 percent to 23,127.47 and South Korea’s Kospi moved 0.8 percent higher to 2,053.26, with investors snapping up high-tech shares. Samsung Electronics Co. Ltd. jumped 3.3 percent, Hynix Semiconductor Inc. was up 2.1 percent, and LG Electronics rose 1 percent.

Australia’s S&P/ASX 200 rose 0.7 percent to 4,733.70. Among gainers was Rio Tinto Ltd., up 0.5 percent., while shares of mining giant BHP Billiton Ltd. slipped 0.2 percent after it announced a nearly $10 billion expansion to its iron ore and coal operations.

On Wall Street late Thursday, stronger corporate earnings and signs of a stronger job market lifted stocks. The U.S. government said fewer people applied for unemployment benefits last week, evidence that layoffs are slowing. The average number of unemployment filings over the last four weeks has dropped to its lowest level since July 2008.

The Dow Jones industrial average rose 84.54 points to close at 12,170.56. The Standard & Poor’s 500 index rose 12.12 to 1,309.66. The Nasdaq composite index rose 38.12 points to 2,736.42.

Oil prices were up 9 cents to $105.69 a barrel as upheaval in the Middle East and signs of strong global demand kept crude near two-year highs. Benchmark crude for May delivery fell 15 cents to settle at $105.60 per barrel on the New York Mercantile Exchange on Thursday.

In currencies, the euro dropped to $1.4167 from $1.4183 late Thursday. The dollar edged up to 80.98 yen from 80.95 yen.

BANGKOK – Asian stocks markets mostly climbed Tuesday after Wall Street opened August with a strong rally on positive economic indicators from around the globe.

Oil prices extended gains above $81 a barrel to near a three-month high as improved sentiment in stock markets boosted crude.

The advance in Asian markets followed a string of news Monday that eased investor concern about economic growth slowing down in the U.S., China and Europe.

A report on U.S. manufacturing in July beat market expectations and one from Europe showed its economy was recovering faster than previously thought. European banks also reported strong earnings.

In China, investors were relieved by news that manufacturing growth slowed in July, suggesting the government won’t need to take more steps to prevent the country’s economy from overheating.

Some analysts, however, cautioned many traders were on vacation during the summer months, and lower activity in markets can exaggerate price swings.

Japan’s benchmark Nikkei 225 stock average jumped 1.2 percent to 9,684.75 and South Korea’s Kospi rose 0.4 percent to 1,788.76. Australia’s S&P/ASX 200 was 0.5 percent higher at 4,564.70 and Hong Kong’s Hang Seng advanced 0.5 percent to 21,519.24.

Markets in Taiwan, India and Malaysia also gained while China’s Shanghai Composite Index retreated 0.4 percent to 2,662.01.

On Monday, the Dow Jones industrial average shot up 208.44, or 2 percent, to 10,674.38, its highest close since May 13, with all 30 of its component stocks gaining on the day. The broader Standard & Poor’s 500 index rose 24.26, or 2.2 percent, to 1,125.86, while the tech-heavy Nasdaq composite index rose 40.66, or 1.8 percent, to 2,295.36.

In currencies, the dollar weakened to 86.44 yen from 86.50 late Monday in New York. The euro fell to $1.3152 from $1.3176.

Benchmark crude for September delivery was up 13 cents at $81.48 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $2.39, or 3 percent, to settle at $81.34 on Monday, the highest since May 4.