Investing.com - U.S. stocks opened higher on Wednesday, after U.S. retail sales data for January came out broadly in line with expectations, while investors eyed a G20 summit later in the week.
During early U.S. trade, the Dow Jones Industrial Average edged up 0.04%, the S&P 500 index added 0.20%, while the Nasdaq Composite index rose 0.23%.
The Commerce Department said U.S. retail sales rose by a seasonally adjusted 0.1% in January, in line with expectations.
Core retail sales, which exclude automobile sales, increased by a 0.2%, beating expectations for a 0.1% gain.
Meanwhile, investors remained cautious after a statement by the G7 on Tuesday reaffirmed a commitment to market-determined exchange rates and said that fiscal and monetary policy won't target exchange rates.
The statement came ahead of G20 meeting starting Friday, which is likely to feature discussions on competitive currency devaluations.
Yahoo shares climbed 0.47%, even as Chief Executive Marissa Mayer said the company's search partnership with Microsoft was not delivering the expected market share gains or revenue boost.
Comcast added to gains, rallying 6.24%, after it reportedly took full control of NBC Universal for USD16.7 billion on Tuesday, the latest in a series of deals that have taken the cable operator from Tupelo, Mississippi, to Manhattan's Rockerfeller Center.
General Electric, who sold its remaining stake in NBC Universal to Comcast, was up 2.92%.
Financial stocks were also on the upside, with Goldman Sachs inching up 0.03% and JP Morgan rising 0.35%, while Citigroup and Bank of America advanced 0.70% and 0.98% respectively.
Among earnings, Deere dropped 0.95%, although it posted quarterly results that topped expectations and boosted its 2013 revenue forecast.
Dean Foods dove 10.06%, even after posting better-than-expected earnings thanks to cost cuts. The company also said it has decided retain up to 19.9% of its WhiteWave dairy line, as analysts expressed skepticism about the future of the milk business.
Elsewhere, Western Union declined 0.77%, as the world’s biggest money-transfer business said it expects “low single digit” revenue declines in 2013.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.52%, France’s CAC 40 advanced 0.48%, Germany's DAX rallied 0.89%, while Britain's FTSE 100 rose 0.57%.
During the Asian trading session, Japan’s Nikkei 225 Index tumbled 1.04%, while Hong Kong's Hang Seng Index remained closed for the Lunar New Year holiday.
During early U.S. trade, the Dow Jones Industrial Average edged up 0.04%, the S&P 500 index added 0.20%, while the Nasdaq Composite index rose 0.23%.
The Commerce Department said U.S. retail sales rose by a seasonally adjusted 0.1% in January, in line with expectations.
Core retail sales, which exclude automobile sales, increased by a 0.2%, beating expectations for a 0.1% gain.
Meanwhile, investors remained cautious after a statement by the G7 on Tuesday reaffirmed a commitment to market-determined exchange rates and said that fiscal and monetary policy won't target exchange rates.
The statement came ahead of G20 meeting starting Friday, which is likely to feature discussions on competitive currency devaluations.
Yahoo shares climbed 0.47%, even as Chief Executive Marissa Mayer said the company's search partnership with Microsoft was not delivering the expected market share gains or revenue boost.
Comcast added to gains, rallying 6.24%, after it reportedly took full control of NBC Universal for USD16.7 billion on Tuesday, the latest in a series of deals that have taken the cable operator from Tupelo, Mississippi, to Manhattan's Rockerfeller Center.
General Electric, who sold its remaining stake in NBC Universal to Comcast, was up 2.92%.
Financial stocks were also on the upside, with Goldman Sachs inching up 0.03% and JP Morgan rising 0.35%, while Citigroup and Bank of America advanced 0.70% and 0.98% respectively.
Among earnings, Deere dropped 0.95%, although it posted quarterly results that topped expectations and boosted its 2013 revenue forecast.
Dean Foods dove 10.06%, even after posting better-than-expected earnings thanks to cost cuts. The company also said it has decided retain up to 19.9% of its WhiteWave dairy line, as analysts expressed skepticism about the future of the milk business.
Elsewhere, Western Union declined 0.77%, as the world’s biggest money-transfer business said it expects “low single digit” revenue declines in 2013.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.52%, France’s CAC 40 advanced 0.48%, Germany's DAX rallied 0.89%, while Britain's FTSE 100 rose 0.57%.
During the Asian trading session, Japan’s Nikkei 225 Index tumbled 1.04%, while Hong Kong's Hang Seng Index remained closed for the Lunar New Year holiday.