USA stocks open higher after earnings reports

Jan 28, 2018, 00:12
USA stocks open higher after earnings reports

US stock index futures rose ahead of Wall Street's open Thursday as Caterpillar reported better-than-expected quarterly results.

The S&P healthcare index .SPXHC was the biggest gainer among the 11 major S&P sectors, up 1.3 percent, led by gains in AbbVie, Pfizer and Gilead.

Microsoft rose 1.2 percent and Johnson & Johnson climbed 1.1 percent Thursday.

The S&P 500 increased 8.52 points, or 0.30 per cent, to 2,846.06.

Intel's INTC.O shares surged about 9 percent to their highest in nearly two decades, after results indicated that the chipmaker's shift to higher-margin data-center business was gaining pace.

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The dollar index, which measures the greenback against a basket of six major currencies, was down 0.44 percent at 89.002, and on track for its worst weekly performance since May.

Utilities (+1.5%), health care (+0.9%) and telecom services (+0.7%) finished at the top of today's sector standings, while energy (-0.8%) was easily the weakest as WTI crude oil reversed recent gains to settle 0.2% lower at $65.51/bbl following a sharp upward move in the USA dollar.

Fourth-quarter earnings growth for the S&P 500 is now estimated at 13.2 per cent, according to Thomson Reuters data, up from 12 percent at the start of the year.

S. growth data. official in support of a weak dollar and following Friday's U. S.

Futures for the Dow Jones Industrial Average were up 54 points, or 0.2%, at 26,430, S&P 500 futures were up 0.3% at 2,850, while futures for the Nasdaq-100 were showing a gain of 0.5% at 6,966.25.

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Canada's main stock index rose on Friday, led by shares in Bombardier, which closed up 15 per cent after it won an unexpected trade victory against US planemaker Boeing Co.

The Dow is up 321.07 points, or 1.2 percent.

In the energy market, oil prices settled higher, with crude also posting a weekly gain as the weaker dollar underpinned prices.

Benchmark 10-year notes last fell 14/32 in price to yield 2.6711 percent, from 2.621 percent late on Thursday. On the Nasdaq, 1,451 issues rose and 1,403 fell.

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