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U.S. stocks open higher on Apple, Boeing earnings

Xinhua, January 28, 2015 Adjust font size:

U.S. stocks opened higher on Wednesday as cheerful earnings from bellwether corporations boosted investors' anticipations.

Apple rose over 7 percent in early trading after its first-quarter earnings of 2015 beat analyst expectations.

The tech giant' s financial results, announced after the close of markets on Tuesday, showed that its quarterly revenue was 74.6 billion U.S. dollars and quarterly net profit was 18 billion dollars, or 3.06 dollars per diluted share. These results were fueled by all-time record revenue from iPhone and Mac sales as well as record performance of the App Store.

"We' d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high," said Tim Cook, Apple' s Chief Executive Officer.

Boeing shares jumped as well after its better-than-expected quarterly earnings. The company reported record fourth-quarter revenue of 24.5 billion dollars on higher deliveries and core earnings per share that increased 23 percent to 2.31 dollars, reflecting strong performance across the company.

Investors were also keeping a close eye on the Federal Reserve's two-day policy meeting wrapping up Wednesday for any clues on the timing of its interest rate hike. Analysts expected the Fed to bring no change to policy, and would focus on comments on oil markets.

Shortly after the opening bell, the Dow Jones Industrial Average rose 32.62 points, or 0.19 percent, to 17,419.83. The S&P 500 gained 7.98 points, or 0.39 percent, to 2,037.53. The Nasdaq Composite Index was up 39.61 points, or 0.85 percent, to 4,721.11.

U.S. stocks suffered big losses Tuesday, as economic data came in mixed and corporate earnings missed forecasts. Endit