US stocks open higher as earnings impress; Hasbro gains
NEW YORK (AP) — U.S. stocks are opening higher as more big companies turn in healthy financial results for the first quarter of the year.
Hasbro jumped 8 percent in early trading Monday after turning in a strong quarterly report card following big sales of Transformers and other toys aimed at boys.
Morgan Stanley rose 1 percent after a gain in trading revenue helped the bank beat analysts’ profit forecasts.
The Dow Jones industrial average rose 200 points, or 1.1 percent, to 18,022 as of 9:35 a.m. Eastern time.
The Standard & Poor’s 500 index gained 16 points, or 0.8 percent, to 2,097. The Nasdaq composite climbed 28 points, or 0.6 percent, to 4,959.
European markets rose. Asian markets fell even after China announced more steps to stimulate its slowing economy.