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U.S. stocks open higher on upbeat earnings

Xinhua, August 23, 2016 Adjust font size:

U.S. stocks opened higher Tuesday as Wall Street digested a batch of generally positive earnings reports.

Shortly after the opening bell, the Dow Jones Industrial Average rose 80.20 points, or 0.43 percent, to 18,609.62. The S&P 500 added 8.38 points, or 0.38 percent, to 2,191.02. The Nasdaq Composite Index was up 19.93 points, or 0.38 percent, to 5,264.53.

Before the opening bell, Best Buy reported GAAP diluted earnings per share from continuing operations of 0.56 U.S. dollar for the second quarter ended July 30, 2016, an increase of 22 percent from a year ago.

Shares of the consumer-electronics retailer spiked over 16 percent in early trading Tuesday.

Shares of Toll Brothers Inc. rose nearly 2 percent in early trading Tuesday after the U.S. home builder reported better-than-expected quarterly results.

Meanwhile, investors kept a close eye on Federal Reserve Chair Janet Yellen, who is scheduled to deliver a speech Friday on the U.S. economy and monetary policy at the Economic Policy Symposium at Jackson Hole, Wyoming.

On Monday, U.S. stocks closed mixed after wavering in a narrow range as oil prices tumbled after recent solid gains. Endi