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U.S. stocks rebound as earnings season begins

Xinhua, April 12, 2016 Adjust font size:

U.S. stocks traded mildly higher around midday Monday as big U.S. companies are reporting their quarterly results this week.

By midday, the Dow Jones Industrial Average rose 45.23 points, or 0.26 percent, to 17,622.19. The S&P 500 gained 3.10 points, or 0.15 percent, to 2,050.70. The Nasdaq Composite Index increased 8.39 points, or 0.17 percent, to 4,859.08.

U.S. material company Alcoa, seen as the unofficial start to quarterly earnings season, will post results after the market closes. Big bank earnings, starting with JPMorgan Chase & Co on Wednesday, are watched most keenly this week.

Experts said that market expectations for profit growth are low amid a sluggish world economy, a strong dollar and declining commodity prices.

With no major data came out on Monday, investors were awaiting a meeting later on the day between U.S. President Barack Obama and Federal Reserve Chair Janet Yellen on the country's economy.

In the previous session, U.S. stocks ended mildly higher amid surging oil, after Fed Chair Yellen reiterated the strength of the U.S. economy. Endit