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U.S. stocks slightly higher ahead of earning reports

Xinhua, April 14, 2015 Adjust font size:

U.S. stocks wavered above flatline in a narrow range in the morning session Monday, with the Nasdaq Composite Index hitting 5,000 points for the first time since March 25, as investors awaited the rollout of quarterly earnings from big companies.

At noon, the Dow Jones Industrial Average added 17.72 points, or 0.10 percent, to 18,075.37. The S&P 500 inched up 1.60 points, or 0.08 percent, to 2,103.66. The Nasdaq Composite Index rose 23. 72 points, or 0.47 percent, to 5,019.69.

Earnings season shifts into high gear this week with results from blue chips JPMorgan expected out before Tuesday's opening bell. Other big companies like Wells Fargo, Johnson & Johnson and Intel will also announce their quarterly earnings Tuesday.

Though no major economic data is due Monday, this is still a big week for data in the United States, as March retail sales and the Producer Price Index (PPI) will be released on Tuesday, and the Consumer Price Index (CPI) is scheduled for Friday.

In corporate news, shares of Netflix soared over 6 percent around midday after analyst firm UBS upgraded the video streaming company from "neutral" to "buy" on Monday, two days ahead of the company's Wednesday earnings report.

U.S. stocks ended higher last Friday, marking a three-day rally with the Dow topping 18,000 for the first time in April, boosted by General Electric's restructuring plan and a broad-based stock increase around the world. Endite