US stocks open higher as earnings season starts

GMT 05:57 2016 Tuesday ,12 April

Arab Today, arab today US stocks open higher as earnings season starts

US stocks
New York - XINHUA

US stocks opened higher on Monday as investors braced for corporate earnings season.

Big bank earnings, starting with JPMorgan Chase & Co on Wednesday, are watched most keenly this week.

Experts said market expectations for profit growth are low amid a sluggish world economy, a strong dollar and declining commodity prices.

With no major data coming out, investors were awaiting an upcoming meeting on Monday between U.S. President Barack Obama and Federal Reserve Chair Janet Yellen on the country's economy.

Shortly after the opening bell, the Dow Jones Industrial Average rose 66.63 points, or 0.38 percent, to 17,643.59. The S&P 500 added 8.53 points, or 0.42 percent, to 2,056.13. The Nasdaq Composite Index gained 26.19 points, or 0.54 percent, to 4,876.88.

In the previous session, U.S. stocks ended mildly higher amid surging oil prices, after Yellen reiterated the strength of the country's economy on Thursday.

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