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Investing.com — U.S. stock markets opened with another bang on Tuesday, the Nasdaq Composite hitting yet another all-time high as policymakers on Capitol Hill prepare proposals for a fifth stimulus package.
By 9:35 AM ET (1335 GMT), the Nasdaq was up 48 points, or 0.5%, at 10,813, while the Dow Jones Industrial Average was up 208 points, or 0.8% at 26,889 points and the S&P 500 was up 0.6%.
Markets were cheered before the open by better-than-expected earnings from companies such as IBM (NYSE:IBM), Coca-Cola (NYSE:KO) and Lockheed Martin (NYSE:LMT), even though neither was confident enough to update its outlook for the full year in any detail.
IBM stock was up 2.3% while Coca-Cola stock was up 3.2%, despite both companies reporting sharp falls in earnings and providing little in the way of guidance for the full year. In IBM’s case, optimists were encouraged by a 30% rise in the group’s cloud computing business, where the year-on-year figures are still benefiting from the first-time contributions of Red Hat, which IBM bought last year.
