(Reuters) – The New York Stock Exchange opened higher on Tuesday after a sharp decline the day before, helped by the results of health insurance giant UnitedHealth, but investors remained cautious in the face of the conflict in the Middle East as they digest a series of company results.
In early trading, the Dow Jones index gained 230.82 points, or 0.61%, to 37,965.93 points and the broader Standard & Poor’s 500 rose 0.06% to 5,064.61 points.
The Nasdaq Composite, on the other hand, lost 0.12%, or 19.32 points, to 15,865.70.
Penalized Monday by the rise in Treasury yields and concerns about the conflict between Iran and Israel, the New York Stock Exchange is regaining color.
In the middle of the corporate results season, those of the health insurer UnitedHealth in the first quarter, better than expected, are driving the Dow Jones and the sector in its wake. The group grew by 5.20% at the opening.
On the macroeconomic front, markets continue to digest US retail sales data, which shows stronger than expected strength and helps fend off bets on future rate cuts from the Federal Reserve (Fed).
According to the International Monetary Fund (IMF), the global economy should experience another year of moderate growth, supported in particular by the solidity of the American economy.
In this context, the remarks of Federal Reserve Chairman Jerome Powell, who is due to speak later today, will be carefully monitored.
The Fed also reported a 0.4% increase in US industrial production last month, in line with estimates.
In stocks, Morgan Stanley, which reported on Tuesday an increase in its profit in the first quarter, increased by 1.6%, while Bank of America, whose profit fell over the period with the drop in interest, abandoned 0.64%.
Tesla lost 3.9% after having lost 5.59% the day before due to information on the dismissal of more than 10% of its global workforce.
(Written by Diana Mandiá)
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