Stocks Gain as Earnings Impress
(AP) -- U.S. stocks moved solidly higher in early trading Tuesday, adding to the market's gains from a day earlier. Technology stocks, retailers and other consumer-focused companies helped lift the market as investors sized up mostly upbeat corporate earnings reports. Oil prices headed lower.
KEEPING SCORE: The S&P 500 index rose 19 points, or 0.7 percent, to 2,697 as of 10 Eastern Time. The Dow Jones industrial average gained 216 points, or 0.9 percent, to 24,789. The Nasdaq composite climbed 69 points, or 1 percent, to 7,226. The Russell 2000 index of smaller-company stocks picked up 8 points, or 0.5 percent, to 1,571.
BINGEWORTHY: Netflix jumped 6.3 percent to $327.19 after the video streaming service said it gained 7.4 million subscribers in the first quarter.
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BANK ON IT: Goldman Sachs rose 0.7 percent to $259.75 after the investment bank's latest quarterly results topped analysts' forecasts. Goldman benefited from a lower tax bill and a surge in market volatility.
HEALTHY RESULTS: UnitedHealth climbed 3.3 percent to $237.94 after it reported a 31 percent jump in first-quarter profit and said it gained Medicare Advantage and Medicaid customers. The nation's largest health insurer also raised its forecast for 2018.
SHORTCIRCUITED: Tesla Motors slid 2.3 percent to $284.50 on reports it has stopped production of its lower priced Model 3 sedan.
ENERGY: Benchmark U.S. crude slipped 20 cents to $66.02 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, lost 10 cents to $71.32 per barrel.
BOND YIELDS: Bond prices fell. The yield on the 10-year Treasury rose to 2.84 percent from 2.83 percent late Monday.
CURRENCIES: The dollar rose to 107.12 yen from 107.10 yen late Monday. The euro fell to $1.2354 from $1.2381.
OVERSEAS: Major indexes in Europe posted gains. Germany's DAX climbed 1.1 percent, while France's CAC 40 rose 0.7 percent. Britain's FTSE 100 added 0.3 percent. In Asia, Japan's benchmark Nikkei 225 edged 0.1 percent higher, while Australia's S&P/ASX 200 was unchanged. South Korea's Kospi lost 0.2 percent. Hong Kong's Hang Seng shed 0.9 percent after new data showed China's economic growth held steady in the first quarter.
(BE)