Stocks Opened Higher after Earnings

U.S. stocks opened higher on Tuesday after a series of earnings reports. The Dow Jones Industrial Average lately rose 88.50 points, or 0.44%, to 20,140.92. The S&P 500 climbed 5.33 points, or 0.23%, to 2,297.89. The Nasdaq Composite gained 15.09 points, or 0.27%, to 5,678.64.

General Motors Co on Tuesday said fourth quarter net income fell to $1.8 billion from $6.3 billion, or $3.92 a share, a year earlier. GM forecast adjusted earnings per share for all of 2017 would range between $6.00 and $6.50 a share, compared to $6.12 a share for all of 2016.

The U.S. trade deficit rose slightly in 2016 to $502.3 billion, marking the highest level in four years.Exports rose 2.7% $190.7 billion, led by higher shipments of passenger planes and parts.Imports increased a smaller 1.5% to $235 billion as demand for pharmaceutical drugs, cell phones and televisions declined.

Amazon.com Inc. (AMZN) increased its impact in online payments in 2016. The company said on Tuesday that Amazon Payments volume nearly doubled last year, with more than 33 million customers having used Amazon’s payment method to make online purchases.