Stocks Opened at Records, Dow Hit 26,000

U.S. stocks opened sharply higher on Tuesday, with the Dow Jones Industrial Average touched the 26,000-mark for the first time, as strong earnings from UnitedHealth and Citigroup helped lift the sentiment. The Dow lately rose 252.90 points, or 0.98%, to 26,056.09. The S&P 500 gained 19.69 points, or 0.71%, to 2,805.93. The Nasdaq Composite added 62.86 points, or 0.87%, to 7,323.92.

UnitedHealth Group Inc. (UNH) reported fourth-quarter profit and revenue that beat expectations. Net earnings rose to $3.62 billion, or $3.65 a share, from $1.68 billion, or $1.74 a share, in the same period a year ago. Total revenue increased to $52.06 billion from $47.54 billion.

Citigroup Inc on Tuesday reported quarterly profit that topped Wall Street expectations as growth in its global consumer banking business. Adjusted to exclude the major tax charge, net income rose 4 percent to $3.7 billion. Total revenue rose 1.4 percent to $17.26 billion.

General Motors Co (GM.N) said 2018 earnings will be largely flat compared with 2017 and forecast higher profits in 2019. GM forecast 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.