NEW YORK — Stocks are ticking higher on Wall Street and adding to their hot start to the week. The S&P 500 was up 0.5% in early trading on Tuesday, pulling further out of the hole created by a six-day losing streak. The Dow Jones Industrial Average was up 105 points, and the Nasdaq composite rose 0.6%. A flood of earnings reports is dictating trading. General Motors climbed after topping forecasts thanks to sales of pickup trucks and other higher-profit vehicles.
Despite beating analysts sales and profit targets, PepsiCo shares were flat before markets opened. PepsiCo reported better-than-expected revenue in the first quarter on strong international demand for its snacks and beverages. About a third of the companies in the S&P 500 this week are scheduled to say how much they made during the year’s first three months. That includes companies that have come to be known as part of the “Magnificent Seven,” beyond Tesla and Alphabet.
Lower rates had appeared to be on the horizon after inflation cooled sharply last year. But a string of reports this year showing inflation has remained hotter than expected has raised worries about stalled progress.
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