Stocks Opened Higher Boosted by Apple’s Upbeat Earnings

U.S. stocks opened slightly higher on Wednesday, with sentiment boosted by upbeat earnings by Apple Inc. as well as stronger-than-expected private-sector hiring data. The Dow Jones Industrial Average lately added 87.42 points, or 0.44%, to 19,951.51. The S&P 500 was up 7.73 points, or 0.34%, to 2,286.60. The Nasdaq Composite gained 36.84 points, or 0.66%, to 5,651.63.

Apple crushed all expectations for its first-quarter earnings on Tuesday. Apple saw $78.4 billion for revenue on expectations of $77.4 billion, and reported earnings of $3.36 per share on expectations of $3.21.

U.S. private employers added 246,000 jobs in January, above economists’ expectations, a report by a payrolls processor showed on Wednesday. Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 165,000 jobs, with estimates ranging from 140,000 to 200,000.