Wall St opens higher as Syria fears wane

Wall St opens higher as Syria fears wane

Stocks closed sharply higher on Tuesday as investor sentiment was boosted by strong results from some of the biggest USA companies.

The Dow Jones Industrial Average jumped on Monday, with the gain taking it above a closely watched level for the first time in more than a month. The S&P 500 gained 0.41% to 2,667.22 and the Nasdaq Composite 0.19% higher at 7 120.19.

The Nasdaq composite climbed 124.81 points, or 1.7 percent, to 7,281.10.

Waning fears of a broader conflict in Syria pushed short-dated US Treasury yields to their highest level in nearly a decade, while crude oil prices eased due to a rise in US drilling activity.

"There's no doubt that corporate tax reform is a tail wind for earnings, but organic growth is really what is driving a lot of these earnings", Adae said.

Shares of Goldman Sachs dipped 1.65 percent to 253.63 dollars apiece Tuesday even though the US bank delivered better-than-expected quarterly results.

The Russell 2000 is up 44.29 points, or 2.9 percent. Comerica fell 3.5 percent to $92.74 and SunTrust Banks fell 2.2 percent to $65.95.

But five of the top performers in the accompanying table saw healthy year-to-date gains vs. the S&P 500 through Wednesday, according to Morningstar Direct.

Netflix climbed 7 percent after the video streaming service said it gained 7.4 million subscribers in the first quarter.


Celanese gained 3.7 percent to $110.38 after the chemical company's latest results beat analysts' estimates.

CURRENCIES: The dollar fell to 107.07 yen from 107.12 yen late Monday. Brent crude, which is used to price global oils, rose 23 cents to $71.65 per barrel. Silver added 2 cents to $16.68 an ounce.

Benchmark U.S. crude rose 30 cents to settle at $66.52 a barrel on the New York Mercantile Exchange.

The June gold contract was down US$4.70 to US$1,346.00 an ounce and the May copper contract was down two cents to US$3.08 a pound. Wholesale gasoline was little changed at $2.04 a gallon.

Major indexes in Europe also rose. The FTSE 100 in Britain dropped 0.9 percent.

Bank of America (BAC.N) rose 0.44 percent after a bigger-than-expected increase in quarterly profit.

In Asia, Japan's benchmark Nikkei 225 edged 0.1 percent higher, while Australia's S&P/ASX 200 was unchanged.

CHINA FACTOR: China's economic growth held steady in the quarter ending in March, buoyed by investment and rapid growth in e-commerce despite trade tensions with Washington.

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