U.S. stocks open higher on strong earnings reports
Xinhua,January 17, 2018 Adjust font size:
NEW YORK, Jan. 17 (Xinhua) -- U.S. stocks opened higher on Wednesday following the release of stronger-than-expected quarterly earnings reports from some of the biggest U.S. companies.
Shortly after the opening bell, the Dow Jones Industrial Average added 124.22 points, or 0.48 percent, to 25,917.08. The S&P 500 increased 9.27 points, or 0.33 percent, to 2,785.69. The Nasdaq Composite Index was up 33.80 points, or 0.47 percent, to 7,257.48.
Bank of America Wednesday reported adjusted earnings per share of 0.47 U.S. dollar for the fourth quarter this year, beating market expectations of 0.44 dollar.
Citigroup on Tuesday 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.
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.
On Tuesday, U.S. stocks closed lower after touching record highs earlier in the session, as investors weighed the possibility of a government shutdown. Enditem