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U.S. stocks trade higher amid earnings reports

Xinhua,January 17, 2018 Adjust font size:

NEW YORK, Jan. 16 (Xinhua) -- U.S. stocks traded higher on Tuesday as key corporate earnings came out better than expected.

At noon, the Dow Jones Industrial Average rose 116.95 points, or 0.45 percent, to 25,920.14. The S&P 500 edged up 5.50 point, or 0.20 percent, to 2,791.74. The Nasdaq Composite Index added 25.11 points, or 0.35 percent, to 7,286.17.

Citigroup reported adjusted earnings per share of 1.28 U.S. dollars for the fourth quarter of 2017, beating market expectations 1.19 U.S. dollars. Shares of Citigroup shares climbed 0.6 percent around midday session.

Earnings season is off to a strong start thus far. According to financial research company FactSet, of the S&P 500 companies that had reported as of Friday, 69 percent have surpassed earnings-per-share estimates while 85 percent have beaten expectations on the top line.

U.S. markets were closed on Monday due to the Martin Luther King holiday. Enditem