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Nasdaq opens above 6,000 on upbeat earnings, data

Xinhua, April 25, 2017 Adjust font size:

U.S. stocks opened higher Tuesday as several large-cap companies reported solid quarterly earnings.

Caterpillar reported first-quarter earnings and revenue on Tuesday that far exceeded Wall Street's expectations, sending shares 7 percent higher in early trading.

Excluding restructuring costs, the company reported first-quarter profit of 1.28 dollars per share, doubling that of the first quarter last year.

Shares of DuPont rallied over 3 percent in early trading, after it reported a better-than-expected profit for the seventh straight quarter, supported by a rise in seed sales.

The company's first-quarter earnings per share increased 9 percent to 1.52 dollars from 1.39 dollars in prior year.

McDonald's also reported higher first-quarter earnings Tuesday with net income of 1.2 billion dollars, up 8 percent from a year ago.

On the economic front, sales of new single-family houses in March 2017 were at a seasonally adjusted annual rate of 621,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development on Tuesday.

That was 5.8 percent above the revised February sales pace, and 15.6 percent higher than a year ago.

Shortly after the opening bell, the Dow Jones Industrial Average was up 151.86 points, or 0.73 percent, to 20,915.75. The S&P 500 rose 7.72 points, or 0.33 percent, to 2,381.87. The Nasdaq Composite Index gained 21.31 points, or 0.36 percent, to 6,005.13, hitting all-time high. Endi