BUSINESS

US stocks open higher as more companies announce strong quarterly results

10/28/2014 09:42 EDT | Updated 12/28/2014 05:59 EST
NEW YORK, N.Y. - The stock market is opening higher as more U.S companies announce strong earnings.

The Standard & Poor's 500 index rose eight points, or 0.4 per cent, to 1,970 as of 9:35 a.m. Tuesday. The Dow Jones industrial average gained 76 points, or 0.5 per cent, to 16,894.

Investors are watching quarterly results roll in this week from a large group of companies. They are also waiting for Wednesday's policy announcement from the Federal Reserve, which could offer clues about the central bank's plans for raising interest rates. The Fed is also winding down its $4 trillion bond-buying program.

Amgen rose 4 per cent after announcing better-than-expected earnings. Twitter fell 6 per cent after the company reported results that raised concerns about its user growth and holiday revenue.