Stocks edge higher as earnings season starts well

Stocks open higher as earnings beat from Alcoa starts earnings season on a positive note

Associated Press
Dow Jones average closes at another record high

View photo

FILE - In this Thursday, April 4, 2013 file photo, traders work on the floor of the New York Stock Exchange. World stock markets rose Tuesday April 9, 2013 as investors looked ahead to U.S. corporate earnings, but Japan's benchmark index finished marginally lower, ending a four-session rally sparked by the Bank of Japan's bold program to revive the country's moribund economy. (AP Photo/Richard Drew, File)

NEW YORK (AP) -- Stocks are opening higher on Wall Street after first-quarter corporate earnings reports started off on a strong note.

Aluminum maker Alcoa reported earnings late Monday that came in ahead of analysts' forecasts. The stock rose half a percent in early trading Tuesday.

Shortly after the opening bell the Dow Jones industrial average was up 10 points, or 0.1 percent, at 14,623.

The Standard & Poor's 500 index was up less than a point at 1,563. The Nasdaq composite rose five points, 0.2 percent, to 3,227.

Alcoa beat Wall Street's earnings forecasts thanks to strong demand from plane and auto builders. The company is forecasting a 7 percent increase in aluminum demand.

J.C. Penney plunged 9 percent to $14.45 after ousting its CEO Ron Johnson late Monday.

View Comments (0)