US open: Stocks higher as Q1 earnings take centre stage
Major indices traded higher early on Tuesday as traders digested a fresh batch of Q1 earnings from a number of the nation's biggest companies.
As of 1500 BST, the Dow Jones Industrial Average was up 0.49% at 40,723.19, while the S&P 500 advanced 0.66% to 5,441.77 and the Nasdaq Composite came out the gate 0.72% firmer at 16,953.31.
The Dow opened 198.40 points higher on Tuesday, extending gains recorded in the previous session as surprise tariff exemptions gave sentiment a leg-up.
Tuesday's primary focus looked set to be earnings from banking giants Bank of America and Citigroup, with the former topping analysts' estimates on the back of better-than-expected interest income and trading, while the latter's results also beat analysts' estimates thanks to gains in fixed income and equities trading.
Elsewhere, pharmaceutical giant Johnson & Johnson hiked its quarterly dividend payout by 4.8% on Tuesday as it delivered Q1 revenue and EPS that came in above estimates on the Street at $21.89bn and $2.77 per share, respectively.
On the macro front, US import prices decreased to 141.80 in March, according to the Bureau of Labor Statistics, down from 142 in February, while export prices were unchanged month-on-month at 152.40.
Elsewhere, the Federal Reserve's New York Empire State manufacturing index rose to -8.1 in April, up from -20 in March, which was the lowest reading since May 2023, beating expectations for a more modest increase to -14.5.
Reporting by Iain Gilbert at Sharescast.com
Dow Jones - Risers
Goldman Sachs Group Inc. (GS)$513.951.98%
American Express Co. (AXP)$258.761.32%
JP Morgan Chase & Co. (JPM)$236.770.87%
Visa Inc. (V)$337.650.74%
Microsoft Corp. (MSFT)$390.610.72%
Cisco Systems Inc. (CSCO)$57.790.66%
Walt Disney Co. (DIS)$85.150.58%
3M Co. (MMM)$136.760.56%
Salesforce.Com Inc. (CRM)$255.910.53%
Walmart Inc. (WMT)$95.100.39%
Dow Jones - Fallers
Dow Chemical Co. (DOW)$28.40-1.66%
Boeing Co. (BA)$157.01-1.43%
Nike Inc. (NKE)$55.11-0.54%
McDonald's Corp. (MCD)$314.38-0.54%
Walgreens Boots Alliance, Inc. (WBA)$10.85-0.50%
Coca-Cola Co. (KO)$72.29-0.23%
Amgen Inc. (AMGN)$293.29-0.21%
Johnson & Johnson (JNJ)$154.20-0.10%
Procter & Gamble Co. (PG)$169.04-0.06%
Dowdupont Inc. (DWDP)$0.000.00%
S&P 500 - Risers
Hewlett Packard Enterprise (HPE)$15.307.14%
Under Armour Inc. Class A (UAA)$5.786.16%
Under Armour, Inc. (UA)$5.455.42%
Bank of America Corp. (BAC)$38.334.51%
Netflix Inc. (NFLX)$962.003.30%
Alaska Air Group Inc. (ALK)$46.383.03%
Southwest Airlines Co. (LUV)$26.333.02%
United Airlines Holdings Inc (UAL)$67.592.89%
American Airlines Group (AAL)$9.832.61%
Delta Airlines Inc. (DAL)$41.332.57%
S&P 500 - Fallers
Coty Inc. Class A (COTY)$4.98-4.00%
Mettler Toledo International (MTD)$1,058.49-2.25%
Air Products & Chemicals Inc. (APD)$268.32-1.56%
Ford Motor Co. (F)$9.56-1.49%
Nektar Therapeutics (NKTR)$0.60-1.47%
Borg Warner Inc. (BWA)$26.06-1.46%
Boeing Co. (BA)$157.01-1.43%
Albemarle Corp. (ALB)$56.61-1.36%
Everest Group (EG)$348.34-1.33%
Gilead Sciences Inc. (GILD)$105.13-1.29%
Nasdaq 100 - Risers
Netflix Inc. (NFLX)$962.003.30%
American Airlines Group (AAL)$9.832.61%
Micron Technology Inc. (MU)$72.512.10%
Check Point Software Technologies Ltd. (CHKP)$224.512.00%
Skyworks Solutions Inc. (SWKS)$58.831.92%
Autodesk Inc. (ADSK)$264.931.62%
Asml Holdings N.V. (ASML)$682.341.41%
Cadence Design Systems Inc. (CDNS)$264.181.39%
Expedia Group Inc. (EXPE)$151.281.37%
Vodafone Group Plc ADS (VOD)$9.081.34%
Nasdaq 100 - Fallers
NetEase Inc. Ads (NTES)$97.14-2.19%
JD.com, Inc. (JD)$37.47-1.86%
Gilead Sciences Inc. (GILD)$105.13-1.29%
Baidu Inc. (BIDU)$84.29-1.11%
Qvc Group Inc Series A (QVCGA)$0.16-1.05%
DENTSPLY Sirona Inc. (XRAY)$12.94-1.03%
Dollar Tree Inc (DLTR)$73.04-0.92%
Walgreens Boots Alliance, Inc. (WBA)$10.85-0.50%
Hologic Inc. (HOLX)$58.62-0.38%
Incyte Corp. (INCY)$58.99-0.38%