Stocks Opened Higher as Earnings Lifted Sentiment

U.S. stocks opened modestly higher on Tuesday, as relatively strong oil prices and earnings helped lead early gains. The Dow Jones Industrial Average lately gained 54.10 points, or 0.30%, to 18,031.34. The S&P 500 climbed 8.21 points, or 0.39%, to 2,096.00. The Nasdaq Composite added 14.43 points, or 0.29%, to 4,910.22.

Oil prices rose in volatile trade on Tuesday on a weaker U.S. dollar. Brent crude rose 0.8% to $44.84 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.8% at $42.98 a barrel.

Orders for long-lasting U.S. manufactured goods rebounded less than expected in March as demand for automobiles, computers and electrical goods slumped, suggesting the downturn in the factory sector was far from over. The Commerce Department said on Tuesday that orders for durable goods increased 0.8 percent last month after declining 3.1 percent in February.

U.S. home prices continued their steady upward march in February as buyers competed for a limited number of available properties. The Standard & Poor’s/Case-Shiller 20-city home price index rose 5.4 percent that month compared with a year earlier, according to a report released Tuesday.

Whirlpool Corp. posted a lower-than-expected first-quarter net profit but kept its previous 2016 earnings per share outlook. The company reported net earnings of $150 million, or $1.92 per share, down from $191 million, or $2.38 per share, a year earlier. Net sales fell to $4.6 billion from $4.8 billion a year earlier.

DuPont’s (DD) first-quarter results beat Wall Street estimates and the chemicals and seed producer raised its full- year guidance as it sees lower currency impact than expected. Net income attributable to the company rose nearly 19 percent to $1.23 billion, or $1.39 per share, in the first quarter. Net sales fell 5.5 percent to $7.41 billion.

About the Author

has written 15164 stories on this site.

Write a Comment

Gravatars are small images that can show your personality. You can get your gravatar for free today!

You must be logged in to post a comment.

Copyright © 2012 Nine Stocks