DJIA up 0.39% (Il Sole 24 Ore Radiocor) - New York, 23 Apr - US shares opened higher as the earnings season moved up a gear, paving the way for Big Tech updates later in the week that will shed light on the state of the economy.

Wall Street closed higher yesterday as the S&P 500 and Nasdaq broke a six-day losing streak, boosted by a resurgence of interest in AI companies like Nvidia.

The main focus today is Tesla results due out after market close. The stock has had a rocky start to the year amid disappointing delivery figures for the first three months and price cuts for some of its models in key markets like the US and China as it looks to fight off competition.

Before the open big three carmaker GM raised its profit outlook after strong first quarter results sending its shares up 6.8% in early trade while PepsiCo earnings and sales fell 2.2% as higher prices offset a drop in volumes. Spotify shares rose almost 14% after the company swung to a profit in the first three months.

About a third of S&P 500 companies are scheduled to release quarterly results this week.

On the data front, the purchasing managers indexes for April and new home sales for March will shed light on Just after the opening bell the Dow Jones was up 147.73 points, or 0.39%, at 38,387.71, the S&P 500 was up 23.62 points, or 0.47%, at 5,034.22 while the Nasdaq was up 75.56 points, or 0.49%, at 15,526.87.

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(RADIOCOR) 23-04-24 15:42:05 (0615) 5 NNNN