Off the wire
• Smuggled trash, coal targeted in China's renewed crackdown  • German industrial production falls sharply in December 2016  • Laos, World Bank sign pact to improve road systems  • Guangdong sees robust growth of high-tech firms  • Nairobi bourse turnover slides after three straight gains  • S. Africa's black majority remains largely outside of mainstream economy: Zuma  • Suspect in Louvre attack starts talking to investigators: TV  • Chinese, Australian FMs call for strengthening of bilateral ties  • Namibia refutes allegations of sabotaging Botswana's quest for AU top job  • Top court pledges non-interference in judges' work  
You are here: 　 Home

U.S. stocks open higher amid data, earnings

Xinhua, February 7, 2017 Adjust font size:

U.S. stocks opened higher on Tuesday as investors eyed newly-released data and corporate earnings reports.

The goods and services deficit was 44.3 billion U.S. dollars in December, down 1.5 billion dollars from a revised level in November, announced the U.S. Commerce Department Tuesday.

For 2016, the goods and services deficit increased 1.9 billion dollars, or 0.4 percent, from 2015.

Meanwhile, investors continued to focus on the fourth quarter earnings of 2016.

Before Tuesday's opening bell, General Motors Co. announced its record full-year 2016 results driven by strong retail demand for full-size trucks and SUVs in the United States, continued industry growth in China and effective cost performance across the globe.

Shares of Michael Kors tumbled over 14 percent on Tuesday after the handbag seller posted its fourth quarter results.

The latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the fourth quarter of 2016 are expected to rise 8.1 percent year on year, while revenues are forecast to increase 4.2 percent.

Shortly after the opening bell, the Dow Jones Industrial Average was up 70.41 points, or 0.35 percent, to 20,122.83. The S&P 500 rose 4.31 points, or 0.19 percent, to 2,296.87. The Nasdaq Composite Index gained 12.37 points, or 0.22 percent, to 5,675.92.

U.S. stocks ended lower after wavering in a tight range Monday with uncertainties regarding a legal fight against U.S. President Donald Trump's travel ban weighing on Wall Street sentiment. Enditem