Stocks Gain after CPI Data, Goldman Sachs, Coke Earnings Beat

U.S. stocks gained at the open on Tuesday after data showed U.S. consumer prices fell in March and  earnings from Coca-Cola Co and Goldman Sachs Group Inc. topped expectations. The Dow Jones Industrial  Average lately gained 118.24 points, or 0.81%, to 14,717.44. The S&P 500 index added 13.80 points, or 0.89%, to 1,566.16. The Nasdaq Composite rose 28.14 points, or 0.87%, to 3,244.63.

U.S. consumer prices declined last month as the cost of gas fell sharply and food prices were unchanged.  The consumer price index declined a seasonally adjusted 0.2 percent in March, after jumping 0.7 percent  in February, the Labor Department said Tuesday.

Goldman Sachs (GS) reported first-quarter earnings on Tuesday that topped Wall Street’s expectations,  helped by higher revenue in its investment banking arm. Goldman posted quarterly earnings excluding  items of $4.29 per share, versus $3.92 in the comparable year-ago period.Revenue increased to $10.09  billion, from $9.95 billion a year ago.

Coca-Cola (KO) reported first-quarter earnings on Tuesday that exceeded Wall Street’s expectations,  boosted by a rise in sales in Europe and emerging markets. Coca-Cola posted quarterly earnings excluding  items of 46 cents per share, versus 45 cents in the comparable year-ago period. Revenue, however, dipped  to $11.04 billion, from $11.14 billion a year ago.

Johnson & Johnson reported better-than-expected first-quarter earnings. It earned $3.5 billion, or $1.22  per share, compared with $3.91 billion, or $1.41 per share, in the year-earlier quarter.

Gold futures up over 2% after sharp selloff. Gold for June delivery rose $32.60, or 2.4%, to $1,393.20  an ounce on the New York Mercantile Exchange.