U.S. stocks open higher after earnings reports
Xinhua,January 25, 2018 Adjust font size:
NEW YORK, Jan. 25 (Xinhua) -- U.S. stocks opened higher on Thursday as corporate earnings reports came out overall positive.
Shortly after the opening bell, the Dow Jones Industrial Average added 112.60 points, or 0.43 percent, to 26,364.72. The S&P 500 increased 8.52 points, or 0.30 percent, to 2,846.06. The Nasdaq Composite Index was up 39.85 points, or 0.54 percent, to 7,454.90.
U.S. construction machinery and equipment company Caterpillar said on Thursday that its fourth-quarter adjusted profit was 2.16 U.S. dollars a share, topping Wall Street forecasts of 1.77 dollars a share.
The Caterpillar stock rose 4 percent in pre-market trading before slipping 0.4 percent in the morning session.
U.S. manufacturing company 3M on Thursday also reported earnings and revenue that beat market expectations. Shares of 3M rose 0.6 percent in the morning session.
As of Thursday, 77 percent of the S&P 500 companies that had reported surpassed earnings expectations, while 79 percent of those companies had beaten sales estimates, according to U.S. financial information company FactSet. Enditem