NEW YORK, N.Y. – The latest on developments in global financial markets (all times local):
Strong earnings reports from a number of companies are driving solid gains on Wall Street in early trading.
Netflix soared 19 per cent early Tuesday after reporting earnings late Monday that were far better than analysts were expecting. Goldman Sachs rose 2 per cent and Comerica gained 3 per cent after both banks also reported better-than-expected results.
Safe-play stocks lagged the market. Phone companies and utilities posted the smallest gains of the 11 sectors in the Standard & Poor’s 500 index.
The Dow Jones industrial average rose 113 points, or 0.6 per cent, to 18,200.
The S&P 500 index climbed 15 points, or 0.7 per cent, to 2,142. The Nasdaq composite increased 51 points, or 1 per cent, to 5,250.
Bond prices fell. The yield on the 10-year Treasury note rose to 1.78 per cent.