US Stocks Edge Higher As J&J Gains

US stocks edge higher as J&J gains

Wall Street stocks edged higher early Tuesday, lifted by solid earnings from Johnson & Johnson and good German economic data

New York, (UrduPoint / Pakistan Point News - 16th Apr, 2019 ) :Wall Street stocks edged higher early Tuesday, lifted by solid earnings from Johnson & Johnson and good German economic data.

About 20 minutes into trading, the Dow Jones Industrial Average stood at 26,432.63, up 0.2 percent.

The broad-based S&P 500 advanced 0.2 percent to 2,910.94, while the tech-rich Nasdaq Composite Index gained 0.3 percent to 7,999.60.

Dow member Johnson & Johnson jumped nearly three percent after reporting first-quarter profits of $2.10 per shares, better than analyst expectations.

The health products company also confirmed its full-year sales forecast.

Bank of America shed 1.9 percent after reporting net income rose 5.8 percent to $6.9 billion. However, revenues fell slightly as strength in consumer banking offset weakness in markets.

Analysts said the ZEW institute's barometer of German investor confidence boosted sentiment about Europe's biggest economy.

Federal Reserve data showed US manufacturing was flat in March, which was good news after sharp declines in the prior two months that combined for a dismal first quarter.

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