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Stocks open higher on Wall Street following solid earnings

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Stocks open higher on Wall Street as traders look over several solid earnings reports from U.S. companies. Procter & Gamble, Regions Financial and Travelers all rose after reporting quarterly results that were better than analysts were expecting.

to deliver more aid for the economy. Fading optimism that an agreement on a new relief package will be reached before the election next month led to a late-afternoon sell-off on Monday.file a lawsuit

The Dow Jones Industrial Average of big blue chips was up 234 points, or 0.8%, to 28,429 as of 10:11 a.m. Eastern time. The Nasdaq composite, which is coming off a five-day losing streak, was up 0.9%. Smaller companies were faring better than the rest of the market. The Russell 2000 index of small-cap stocks was up 1.1%.

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin negotiated for nearly an hour on Monday ahead of a Tuesday deadline for reaching a pre-election deal with the Trump administration on a new coronavirus relief package. A top aide of Pelosi’s called the talks productive.Senate Majority Leader Mitch McConnell is expected to bring a GOP version of a stimulus bill to the floor of the Senate for a vote on Wednesday.

 

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