Investing.com - U.S. stocks opened higher Friday as strong earnings reports and European growth hopes spurred the risk on rally.
At the open of U.S. trade, the Dow Jones Industrial Average added 0.65%, the S&P 500 gained 0.34%, while the Nasdaq Composite advanced 0.60%.
Sparking the risk on sentiment, German ifo business climate surprised economists climbing to 109.9 from 109.8 the previous month.
Economists expected a drop to 109.5.
Germany is the euro zone’s largest economy therefore German economic improvements are a major signal of future European growth.
Meanwhile, the IMF is meeting with Group of 20 officials, on the heels of IMF director Christine Lagarde saying Thursday; she expects more contributions in her campaign for a larger bailout fund.
Profits for the 94 companies reporting, thus far in the S&P 500, are beating estimates by 8.5% despite falling home sales and rising jobless claims.
Leading high tech higher, Microsoft soared 4.2% after reporting USD0.60 per share in net income beating the projected USD0.57 per share.
Dow leader, General Electric added 1.6% upon beating estimates.
The real king of hamburgers, McDonalds, gained 2% after reporting a 4.8% increase in first quarter profits due to new menu items attracting customers.
In the midst of European trade, the EURO STOXX 50 advanced 0.90%, France's CAC 40 gained 0.29%, while Germany’s DAX added 0.94%. Meanwhile, in the U.K. the FTSE 100 traded higher by 0.40%
At the open of U.S. trade, the Dow Jones Industrial Average added 0.65%, the S&P 500 gained 0.34%, while the Nasdaq Composite advanced 0.60%.
Sparking the risk on sentiment, German ifo business climate surprised economists climbing to 109.9 from 109.8 the previous month.
Economists expected a drop to 109.5.
Germany is the euro zone’s largest economy therefore German economic improvements are a major signal of future European growth.
Meanwhile, the IMF is meeting with Group of 20 officials, on the heels of IMF director Christine Lagarde saying Thursday; she expects more contributions in her campaign for a larger bailout fund.
Profits for the 94 companies reporting, thus far in the S&P 500, are beating estimates by 8.5% despite falling home sales and rising jobless claims.
Leading high tech higher, Microsoft soared 4.2% after reporting USD0.60 per share in net income beating the projected USD0.57 per share.
Dow leader, General Electric added 1.6% upon beating estimates.
The real king of hamburgers, McDonalds, gained 2% after reporting a 4.8% increase in first quarter profits due to new menu items attracting customers.
In the midst of European trade, the EURO STOXX 50 advanced 0.90%, France's CAC 40 gained 0.29%, while Germany’s DAX added 0.94%. Meanwhile, in the U.K. the FTSE 100 traded higher by 0.40%