Technology Businesses lead early Profits for US stocks

Stocks were higher on Wall Street in early trading Tuesday, erasing the market losses in the day earlier.

Technology firms led businesses, with chipmakers. Health care stocks also rose as traders weighed against earnings from Johnson & Johnson and UnitedHealth Group. The outcomes from both companies topped Wall Street forecasts.

Banks also notched gains, despite a report by Bank of America.

This year, investors are seeking to the most recent wave of corporate earnings reports for clues on the health of the international market and the prospects for company profits.

The most recent reporting season was kicked from by banks a week. Analysts expect the first-quarter results for S&P 500 companies to be the weakest in nearly three decades.

Tuesday’s early rally for U.S. stocks adopted profits in markets overseas, which rallied on upbeat economic data in China and Germany.

KEEPING SCORE: The S&P 500 was up 0.3% at 10:17 a.m. Eastern Time. The Dow Jones Industrial Average gained 59 points, or 0.2 percent, to 26,444.

The benchmark S&P 500 remains within 0.6% of its most recent all-time large September 20. Stocks have had a torrid start to the year, following the Federal Reserve said it might not raise interest rates whatsoever in 2019.

CLEAN BILL OF HEALTH: UnitedHealth Group, the country’s biggest health insurance carrier, gave up an early gain, shedding 1.4percent after beating first-quarter earnings predictions and increasing its estimates for the entire year.

BEATING FORECASTS: Johnson & Johnson rose 2.6% after the health care products firm’s first-quarter results topped Wall Street’s forecasts, even after the company said its earnings increased 14% following a decrease in earnings overseas and greater costs for litigation and research.

MIXED RESULTS: Bank of America dropped 2.4% after the nation’s second-largest bank reported strong sales growth, but cautioned that a essential income growth class is running at half of 2018’s pace.