Markets Right Now: Stocks open higher on Wall Street


The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 35.21 points, or 0.22 per cent, at 16,239.22.

The Dow Jones industrial average rose 44.41 points, or 0.17 percent, at 26,437.2 and the S&P 500 gained 8.83 points, or 0.31 percent, at 2,848.08.

Most sectors are higher in early US action, paced by the materials group (+0.8%) following Praxair's (+3%) better than expected Q4 results; the tech sector (+0.6%) also is outperforming while financials (-0.2%) lag.

Honeywell was marginally up after adjusted earnings narrowly beat estimates and the company raised its forecast for 2018 profit.

Oil prices settled higher on Friday after hitting three-year highs, with crude also posting a weekly gain as a weaker USA dollar underpinned prices. The index has been expected to rise by 0.5%.

These are record earnings for the Dow Jones and S&P 500. With the drop, the index ended the session at its lowest closing level in nearly a month.

VMware rose 12 percent after The Wall Street Journal reported that Dell may pursue a full takeover of the company.

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Extending the sell-off seen in the previous session, airline stocks also saw considerable weakness on the day.

The S&P 500 added 3.51 at 2,841.

JetBlue (JBLU), Alaska Air (ALK), Southwest Airlines (LUV) and American Airlines (AAL) all moved notably lower after reporting their quarterly results. Intel also gave a strong sales outlook. France's CAC40 Index fell 0.3%, the UK's FTSE 100 index slid 0.4% and Germany's DAX Index dropped 0.9%.

"And the primary trend with the equity markets is higher".

Bond prices fell. The yield on the 10-year Treasury rose to 2.66 percent. As on Friday, earnings were being reported from every end, many companies good earnings reported by such those of AbbVie, Rockwell, Intel and others.

Colgate-Palmolive (CL) and Honeywell (HON) are also among the companies due to report their results before the start of trading on Friday.

AbbVie's shares jumped 13.77 per cent after the drugmaker significantly boosted its 2018 earnings forecast with help from US tax reform and said it hopes to accelerate dividend growth and share buybacks.