Stocks Opened Higher on Strong Earnings
- Tuesday, April 17, 2018, 10:05
- Stock Market
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U.S. stocks opened higher on Tuesday as strong earnings from Netflix, Goldman Sachs and health majors boosted optimism. The Dow Jones Industrial Average lately rose 241.86 points, or 0.98%, to 24,814.90. The S&P 500 gained 22.12 points, or 0.83%, to 2,699.96. The Nasdaq Composite added 81.26 points, or 1.14%, to 7,237.54.
Crude-oil futures saw muted action in early Tuesday trade as political jitters centered on military conflicts in the Middle East receded somewhat. May West Texas Intermediate crude edged 4 cents, or less than 0.1%, higher at $66.26 a barrel. June Brent ticked up by 3 cents, or less than 0.1%, to $71.45 a barrel.
UnitedHealth Group Inc (UNH) on Tuesday posted quarterly profit that beat estimates. UnitedHealth’s net earnings rose to $2.84 billion, or $2.87 per share, in the first quarter ended March 31 from $2.17 billion, or $2.23 per share, a year earlier. Total revenue rose 13.3 percent to $55.19 billion.
Goldman Sachs Group Inc blew past Wall Street’s expectations for quarterly profit on Tuesday. Net income applicable to common shareholders rose 27 percent to $2.74 billion, or $6.95 per share, and blew past the average analyst estimate of $5.58 per share. Total revenue rose 25 percent to $10.04 billion.
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