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US: Stocks up in early trade

Tuesday, October 21, 2014 - 21:44
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[NEW YORK] Apple's strong earnings helped push US stocks higher in opening trade Tuesday, offsetting the impact of third quarter profit drops from Coca-Cola and McDonald's.

Five minutes into trade, the Dow Jones Industrial Average stood at 16,474.39, up 74.72 points (0.46 per cent).

The broad-based S&P 500 jumped 16.02 (0.84 per cent) to 1,920.03, while the tech-rich Nasdaq Composite Index gained 48.70 (1.13 per cent) to 4,364.77.

Apple, the biggest US company by market capitalization, vaulted 3.1 per cent as fourth-quarter profits jumped 13 percent to US$8.5 billion on strong iPhone sales.

AFP