US opens higher amid data, earnings

Wednesday, 27. April 2022 15:30

Major stock indexes in the United States traded higher at the opening bell on Wednesday, upon data and earnings reports. The US Census Bureau shared in its preliminary report that the country’s trade deficit grew by 17.8% in March.

On the earnings front, while T-Mobile US, Inc. recorded a slight increase in its revenue for the first quarter of 2022, both Boeing Co. and Kraft Heinz Company saw their revenue drop in the same quarter. Later today, Meta Platforms Inc., Ford Motor Company, Pinterest Inc. Qualcomm Inc., and PayPal Holdings, Inc. are set to release their earnings report.

The Dow Jones added 0.57% or 186 points at 9:30 am ET, with Visa Inc. leading the gains, stocks of which jumped 9.41% at the same time. The index extended gains, reaching 0.92% or 305 points at 9:49 am ET. The S&P 500 was up 0.33% at the open, as Tesla Inc. surged 4.15% at 9:30 am ET. Twenty minutes later, the S&P 500 was up 1.20%.

The Nasdaq 100 started off the session modestly, gaining 0.35% at the opening bell, with JD.com soaring 5.34% a minute later, only to increase 1.54% or 200 points at 9:48 am ET. The euro tumbled 0.95% against the dollar at 9:29 am ET, selling for 1.05363.

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Baha Breaking News (BBN) / AY