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U.S. stocks open higher on earnings

Xinhua, April 15, 2015 Adjust font size:

U.S. stocks opened higher on Wednesday, as investors continued to sift through major earnings reports.

Bank of America posted a first quarter net income of 3.4 billion U.S. dollars, or 0.27 per diluted share. Its quarterly profit narrowly beat analysts' expectations.

Delta Air Lines' first-quarter profit topped analysts' expectations as lower oil price continued to cheer its bottom line. Shares jumped 3.95 percent in the early trading. Delta's adjusted pre-tax income for the first quarter was 594 million dollars, an increase of 150 million over the March 2014 on a similar basis.

On Tuesday, both JPMorgan Chase and Wells Fargo announced better-than-expected financial reports. Both Dow and S&P 500 were up Tuesday as profits beat lowered Wall Street estimates.

Intel reported results after the closing bell on Tuesday. The chipmaker posted first-quarter revenue of 12.8 billion dollars, in line with expectations, and net income of 2 billion dollars. Shares rose 2.81 percent in the early session.

St. Louis Fed President James Bullard said Wednesday that falling unemployment and U.S. economy growth are evidence that the central bank should start raising interest rates.

Shortly after the opening bell, the Dow Jones Industrial Average gained 68.83 points, or 0.38 percent, to 18,105.53. The S&P 500 rose 7.53 points, or 0.36 percent, to 2,103.37. The Nasdaq Composite Index increased 12.31 points, or 0.25 percent, to 4,989.60. Endi