U.S. stocks opened higher on Tuesday as strong third-quarter results from the first raft of companies to report suggested the American consumer remains resilient.
The Dow Jones Industrial Average opened 117 points, 0.4%, higher, at 26,905. The S&P 500 rose more than 7 points at the open to start trading at 2,973, up 0.3%. The Nasdaq rose about 24 points or 0.3%, to 8,073. JPMorgan Chase & Co. one of the first companies to report on Tuesday, was 2% higher in morning trading, while shares of UnitedHealthGroup Inc. jumped more than 5%. Despite the healthy U.S. consumer sector, the IMF said Tuesday it sees global growth at 3% this year, the slowest since the 2008 financial crisis.