Stock edge higher at start of busy earnings week
NEW YORK (AP) — Stocks edged higher Monday at the start of another major week for company earnings. The Standard & Poor’s 500 index had its best week since July last week as first-quarter corporate earnings began to come in.
The Standard & Poor’s 500 index rose three points, or 0.2 percent, to 1,868 in the first 45 minutes of trading. The Down Jones industrial average gained 30 points, or 0.2 percent, to 16,439. The Nasdaq composite climbed three points, or 0.1 percent, to 4,098.
Halliburton rose $2.37, or 4 percent, to $63.29 after the company said it was profitable in the first-quarter after reporting a loss for the period a year ago.
More companies are scheduled to report first-quarter earnings this week. Netflix will release its earnings after the closing bell. Companies including McDonald’s, Delta Air Lines and Ford are also among those scheduled to release their results this week. S&P 500 companies are forecast to report a 1.1 percent decline in earnings for the period, according to data from S&P Capital IQ.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.70 percent from 2.72 percent on Friday. The price of oil rose 25 cents, or 0.2 percent, to $104.52 a barrel.