(MENAFN- AFP) Apple's strong earnings helped push US stocks higher in opening trade Tuesday, offsetting the impact of third quarter profit drops from Coca-Cola and McDonald's.
Five minutes into trade, the Dow Jones Industrial Average stood at 16,474.39, up 74.72 points (0.46 percent).
The broad-based S&P 500 jumped 16.02 (0.84 percent) to 1,920.03, while the tech-rich Nasdaq Composite Index gained 48.70 (1.13 percent) to 4,364.77.
Apple, the biggest US company by market capitalization, vaulted 3.1 percent as fourth-quarter profits jumped 13 percent to $8.5 billion on strong iPhone sales.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.