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Stock Markets

19 Oct 2021

Wall Street Opens Higher as Earnings Support Confidence; Dow

The Index Today

On Tuesday, U.S. stock markets opened higher encouraged by signs that companies are continuing to earn money despite arising problems with supply chain disruptions and growing input prices.

Report from Investing.com shows that by 9:35 AM ET (1335 GMT),. the Dow Jones Industrial Average was up 100 points, or 0.3%, at 35,358 points. The S&P 500 was also up 0.3% and the Nasdaq Composite was up 0.2%.

Johnson & Johnson stock was also seen as one that benefited from eliminating doubt about its outlook, growing at 1.1% after the company raised its guidance for the year a little and upheld its forecasts for sales of its Covid-19 vaccine, which was dogged by various problems in the time around its authorization from its regulators.

Another stock making conspicuous gains in early trading was Coinbase Global, which rose 4.2% after announcing a deal to provide custody services to Facebook's new digital wallet project, Novi. The ongoing rally in crypto currencies, as the U.S.'s first exchange-traded fund for Bitcoin futures started trading, also supported Coinbase stock, added to the reports from Investing.com.

©Photo: Reuters

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