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United States stocks open higher after earnings reports

United States stocks open higher after earnings reports”

US stock index futures rose ahead of Wall Street's open Thursday as Caterpillar reported better-than-expected quarterly results.

The advance put the three main indexes on pace for their best four-week run since 2016.

Meanwhile, potentially market-driving data released Thursday morning included weekly initial jobless claims, which rose by 17,000 to 233,000.

Honeywell (N:) rose 1.2 percent after the company raised its forecast for 2018 profit.

Dow Jones industrial average futures gained 100 points, while S&P 500 and Nasdaq 100 futures advanced 8 points and 37 points, respectively.

The results of Intel and some other companies helped investors shrug off weaker-than-expected USA economic growth data.

Fourth-quarter earnings growth for the S&P 500 is now estimated at 13.2 per cent, according to Thomson Reuters data, up from 12 percent at the start of the year. The Nasdaq Composite Index was down 3.89 points, or 0.05 percent, to 7,411.16.

The major indexes posted intraday records on Wednesday, but the S&P 500 and Nasdaq finished the session lower as valuation concerns and worries about protectionist policies made some investors nervous.

Also lifting the index were gains in Pfizer, up 4.78 per cent after a European regulator recommended granting marketing approval to a diabetes drug developed by the company and Merck, up 1.21 percent.

The Dow is up 321.07 points, or 1.2 percent.

Benchmark 10-year notes US10YT=RR last fell 11/32 in price to yield 2.6599 percent, from 2.621 percent late on Thursday.

The Russell 2000 index of smaller-company stocks added 2.06 points, or 0.1 percent, to 1,601.67.

U.S. Treasury yields climbed after the U.S. GDP data and after the governor of the Bank of Japan said inflation is finally close to reaching the central bank's 2 percent target.



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