Tue, 09 Mar 2021

U.S. stocks open higher amid earnings

Xinhua
20 Jan 2021, 02:05 GMT+10

NEW YORK, Jan. 19 (Xinhua) -- U.S. stocks opened higher on Tuesday as Wall Street digested a slew of earnings reports.

Shortly after the opening bell, the Dow Jones Industrial Average rose 115.35 points, or 0.37 percent, to 30,929.61. The S&P 500 climbed 18.49 points, or 0.49 percent, to 3,786.74. The Nasdaq Composite Index increased 98.09 points, or 0.75 percent, to 13,096.60.

Eight of the 11 primary S&P 500 sectors advanced in morning trading, with energy up 1.7 percent, outpacing the rest. Real estate slipped 0.75 percent, becoming the worst-performing group.

Goldman Sachs on Tuesday reported stronger-than-expected fourth-quarter profit and revenue. Its shares rallied more than 1.8 percent before turning red.

Shares of Bank of America slipped after the company posted quarterly revenue that fell short of expectations. Its earnings came in slightly ahead of estimates.

For the week ending Friday, the Dow fell 0.9 percent, while the S&P 500 and the Nasdaq both lost 1.5 percent, amid a slew of lackluster economic data.

The U.S. markets were closed on Monday in observance of Martin Luther King Jr. Day.

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