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Wall Street opens higher on company earnings, Company News

PARIS, Jan 19 (Reuters) – The New York Stock Exchange opened higher on Wednesday as equity markets were buoyed mainly by corporate earnings and a rebound in technology stocks.

In early trading, the Dow Jones index gained 130.81 points, or 0.37%, to 35,499.28 points and the broader Standard & Poor’s 500 rose 0.68% to 4,608.59 points.

The Nasdaq Composite takes 0.89%, or 128.57 points, to 14,635.46.

According to IBES data from Refinitiv, companies making up the S&P-500 index are expected to post earnings up 23.1% year-on-year over the October-December period.

The positive trend on Wall Street is notably maintained by the publication of the financial accounts for the fourth quarter of UnitedHealth Group and Procter & Gamble, whose shares gain respectively 1.5% and 3.6%. The first reported a quarterly profit above expectations, while the second raised its forecast for annual turnover.

After mixed announcements last week from JP Morgan Chase and Citigroup, Bank of America Corp (+3.6%) and Morgan Stanley (+3.4%) pleasantly surprised investors on Wednesday with their results and forecasts.

New technology heavyweights such as Microsoft, Alphabet, Tesla, Meta Platforms and Netflix are trading between 0.2% and 1.7%. The sector index rose by 0.4%.



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