Stocks Opened Higher, Alcoa Kicked Off Earnings Season

U.S. stocks opened higher on Tuesday with the S&P 500 and Dow industrial Average trading in record territory, as a stronger-than- expected second-quarter report from Alcoa Inc.(AA) fostered optimism on Wall Street. The Dow Jones Industrial Average lately added 124.06 points, or 0.68%, to 18,350.99. The S&P 500 was up 14.56 points, or 0.68%, to 2,151.72. The Nasdaq Composite advanced 38.42 points, or 0.77%, to 5,027.06.

Alcoa Inc reported second quarter 2016 results. The aluminum maker posted adjusted earnings of 15 cents per share on $5.3 billion in sales, against Wall Street’s estimates of 9 cents per share in earnings on $5.2 billion in revenue. Net earnings were 9 cents per share.

Crude futures bounced back from two-month lows on Tuesday, helped by a weaker dollar. Brent crude was at $47.36 per barrel at 1022 GMT, up $1.11 or 2.3 percent. U.S. West Texas Intermediate crude was up 87 cents at $45.63 a barrel.

Silver futures climbed early Tuesday, putting gold’s sister metal in position to log its best closing level in almost two years.September silver boosted both by hedging demand and for its use as an industrial commodity, added 11 cents, or 0.5%, to $20.40 an ounce.