This post was originally published on this site
Investing.com — U.S. stock markets opened higher on Wednesday after a generally strong barrage of corporate earnings ensured that Tuesday’s rebound extended into the new session.
By 9:40 AM ET (1340 GMT), the Dow Jones Industrial Average was up 181 points, or 0.5%, at 34,693 points. The S&P 500 was up 0.4% and the Nasdaq Composite was up 0.2%.
The Nasdaq’s underperformance was down in part to Netflix (NASDAQ:NFLX), whose disappointing subscriber growth forecast for the next quarter was a sober reminder that the sugar rush enjoyed by winners from the pandemic can’t last forever.
Netflix stock was one of very few in the red, losing 2.6%. Another was Harley-Davidson (NYSE:HOG) stock, which fell 4.1% after the motorcycle maker revised down its operating income forecast due to the impact of EU tariffs.
Most other companies to report over the last few hours saw their stock prices rise, however. Chipotle Mexican Grill (NYSE:CMG) stock rose 8.5%, as reopened restaurants and rebounding sales more than outweighed warnings about higher input costs, from both raw materials and labor. Likewise, Verizon (NYSE:VZ)stock rose 1.1% after it reported steady progress in the uptake of its 5G services, while United Airlines (NASDAQ:UAL) stock rose 3.7% after it reported a sharp narrowing of its net loss in the second quarter. Coca-Cola (NYSE:KO) stock rose 2.4% as the reopening of economies across the world lifted sales across all its product lines.
