US: Stocks jump as Alcoa results best expectations

[NEW YORK] Wall Street stocks followed European equity markets higher on Tuesday, surging in opening trade after results from Alcoa kicked off quarterly earnings season.

Five minutes into trade, the Dow Jones Industrial Average stood at 17,879.10, up 238.26 points (1.35 per cent).

The broad-based S&P 500 jumped 23.57 (1.16 per cent) to 2,051.83, while the tech-rich Nasdaq Composite Index gained 59.91 (1.26 per cent) at 4,724.62.

Equity markets in France and Germany were both up more than one per cent on speculation about monetary stimulus from the European Central Bank.

Alcoa rose 1.4 per cent after reporting earnings that translated into 33 cents per share, more than the 25 cents projected by analysts. The aluminum maker's results marks the unofficial start of quarterly earnings season.

AFP