NEW YORK, July 18 — Wall Street stocks rose early today, extending a rally that started last week as markets digested solid earnings from Goldman Sachs and a big new Boeing plane order.
After a pair of bruising inflation readings last week, US stocks finished the week on an upbeat note, rising Friday after good retail sales results.
Briefing.com analyst Patrick O’Hare pointed to “carryover momentum” at the start of a week that includes major earnings reports and decisions by the European Central Bank and other central banks.
About 20 minutes into trading, the Dow Jones Industrial Average was up 0.9 per cent at 31,556.91.
The broad-based S&P 500 advanced 0.9 per cent to 3,899.33, while the tech-rich Nasdaq Composite Index gained 1.5 per cent to 11,618.13.
Among individual companies, Boeing shot up 4.6 per cent after announcing that Delta agreed to buy 100 medium-haul Boeing MAX passenger aircraft worth a combined US$13.5 billion (RM60 billion). Delta jumped 5.4 per cent.
Goldman Sachs climbed 3.6 per cent as it reported a 48 per cent drop in quarterly earnings to US$2.8 billion after setting aside more funds in case of bad loans. However, results topped analyst expectations following a strong performance in trading.
This week’s earnings calendar includes results from Netflix, Johnson & Johnson and Tesla. — AFP
