Stocks- Wall Street Modestly Higher as Earnings in Focus
Investing.com – Wall Street opened slightly higher on Tuesday, as second quarter earnings were in focus but were weighed down by lingering trade tension concerns.
The S&P 500 gained six points or 0.24% to 2,790.80 as of 9:39 AM ET (13:39 GMT) while the Dow composite increased 109 points or 0.44% to 24,885.76 and tech heavy NASDAQ Composite was up over 12 points or 0.17% to 7,769.08.
Second quarter financial results start this week, with Delta Air Lines Inc (NYSE:DAL) reporting its financial results on Thursday, while the bigger banks, including JPMorgan (NYSE:JPM) and Bank of America (NYSE:BAC), report on Friday.
Earnings focus was weighed down by trade tensions as traders look for any potential tariff impact on corporate profits. Meanwhile U.S. President Donald Trump is flying to Brussels for the NATO summit, with investors keeping an eye out for any possible trade commentary.
PepsiCo (NASDAQ:PEP) surged 2.29% after reporting higher than expected financial results, while Tesla (NASDAQ:TSLA) gained 2.19% amid news that the luxury car maker is planning a factory in China. Citigroup (NYSE:C) rose 0.42% while Boeing (NYSE:BA) was up 1.19% and Twitter Inc (NYSE:TWTR) increased 1.63%.
Elsewhere Netflix (NASDAQ:NFLX) fell 0.67% while Advanced Micro Devices Inc (NASDAQ:AMD) was down 0.75% and Amazon.com (NASDAQ:AMZN) inched down 0.14%.
In Europe stocks were mostly up. Germany’s DAX rose 74 points or 0.59% while in France the CAC 40 increased 33 points or 0.62% and in London, the FTSE 100 was up 11 points or 0.15%. Meanwhile the pan-European Euro Stoxx 50 gained nine points or 0.27% while Spain’s IBEX 35 inched down 37 points or 0.38%.
In commodities, gold futures fell 0.38% to $1,254.80 a troy ounce while crude oil futures increased 0.96% to $74.56 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.28% to 94.06.
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