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NEW YORK, Oct. 24 (Xinhua) -- U.S. stocks opened higher Monday as Wall Street digested a batch of generally positive earnings reports.
Shares of T-Mobile surged over 6 percent in the early trading Monday after the company posted better-than-expected quarterly results.
The U.S. wireless carrier announced Monday net income of 366 million U.S. dollars, or 42 cents per share, for the third quarter of 2016, compared with 138 million dollars, or 15 cents a share during the same quarter last year.
The latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the third quarter of 2016 are expected to rise 1.1 percent year on year, while the revenues are forecast to increase 2.5 percent.
On Friday, U.S. stocks closed mixed after wavering in a tight range, as investors digested remarks from the U.S. Federal Reserve official amid corporate earnings reports.
San Francisco Fed President John Williams on Friday said he wants to see the U.S. central bank resume rate hikes "preferably sooner rather than later."
"In the context of a strong economy with good momentum, it makes sense to get back to a pace of gradual rate increases," Williams said in a speech to the Federal Home Loan Bank of San Francisco.
Shortly after the opening bell, the Dow Jones Industrial Average added 118.34 points, or 0.65 percent, to 18,264.05. The S&P 500 gained 11.15 points, or 0.52 percent, to 2,152.31. The Nasdaq Composite Index increased 35.20 points, or 0.67 percent, to 5,292.60. Enditem
