U.S. stocks open mixed after earnings reports
Xinhua,January 23, 2018 Adjust font size:
NEW YORK, Jan. 22 (Xinhua) -- U.S. stocks opened mixed on Tuesday, with Nasdaq reaching record highs, as corporate earnings reports came out overall positive.
Shortly after the opening bell, the Dow Jones Industrial Average lost 16.80 points, or 0.06 percent, to 26,197.80. The S&P 500 increased 2.29 points, or 0.08 percent, to 2,835.26. The Nasdaq Composite Index was up 22.02 points, or 0.30 percent, to 7,430.05.
The tech-heavy Nasdaq traded higher as Netflix shares soared after its release of stronger-than-expected subscriber growth.
The U.S. online video giant reported on Monday after the close that it added 8.3 million subscribers in the fourth quarter compared with expectations for 6.4 million. The shares are up 12 percent Tuesday to 255 U.S. dollars, lifting the company's market value above 100 billion U.S. dollars for the first time.
Meanwhile, Dow components Johnson & Johnson and Procter & Gamble both reported better-than-expected earnings and revenue on Tuesday.
The calendar fourth-quarter earnings season is off to a good start. As of Tuesday, 72 percent of the S&P 500 companies that had reported surpassed earnings expectations, while 80 percent of those companies had beaten sales estimates, according to U.S. financial information company FactSet. Enditem