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U.S. stocks opened higher Monday, setting gains for a third straight session, as Wall Street looked to Alcoa Inc. to kick off the second-quarter earnings season.
The Dow Jones Industrial Average gained 0.68% or 103.29 points to 15239.78. The S&P 500 gained 0.43% or 7.23 points to 1638.87 points. The NASDAQ composite index rose 0.28% or 10.01 points to 3489.75. As of 10:00 a.m. ET
U.S. stocks finished higher Friday following a strong monthly jobs report . Investors seemed to set aside concerns about the Federal Reserve and focused on the improved outlook for economic growth.
Second-quarter earnings season begins with results after the bell from aluminum producer Alcoa .
The company is still economically significant and is the first Dow component to report. The industrial bellwether is expected to report a slight decline in revenue but improved earnings per share, according to analysts. The Aluminum producer rose 0.26% ahead of releasing results.
Results are due later in the week from firms including Yum! Brands, JPMorgan and Wells Fargo, and investors will be looking for signs of economic growth working through into stronger revenues.
Results from two of the nation’s biggest banks, J.P. Morgan and Wells Fargo, on Friday will offer investors a fresh look into the state of the financial industry. Analysts expect both firms to see a boost in profit for the period, while revenue is expected to improve at J.P. Morgan and come in flat from a year earlier for Wells Fargo.
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