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US stocks climb in early trading on strong company earnings

The New York Stock Exchange building is shown Tuesday, Oct. 11, 2016, in New York. Strong earnings reports from a number of companies are driving solid gains on Wall Street in early trading, Tuesday, Oct. 18, 2016. (AP Photo/Frank Franklin II)
The New York Stock Exchange building is shown Tuesday, Oct. 11, 2016, in New York. Strong earnings reports from a number of companies are driving solid gains on Wall Street in early trading, Tuesday, Oct. 18, 2016. (AP Photo/Frank Franklin II) The New York Stock Exchange building is shown Tuesday, Oct. 11, 2016, in New York. Strong earnings reports from a number of companies are driving solid gains on Wall Street in early trading, Tuesday, Oct. 18, 2016. (AP Photo/Frank Franklin II)

By Associated Press 2 min read

U.S. stocks moved higher in early trading Tuesday as investors welcomed strong earnings reports from Netflix, UnitedHealth Group and other companies. Health care, financial and consumer-focused companies were among the big gainers, while telecom and utilities stocks lagged the market.

KEEPING SCORE: The Dow Jones industrial average gained 81 points, or 0.5 percent, to 18,168 as of 10:14 a.m. Eastern time. The Standard & Poor’s 500 index rose 11 points, or 0.6 percent, to 2,138. The Nasdaq composite index added 47 points, or 0.9 percent, to 5,247. The market was rebounding from a slightly lower close the day before.

BINGE THIS: Netflix surged 19.2 percent a day after the video streaming service reported earnings that were far better than analysts were expecting. The company noted it grew its domestic and international subscribers during the quarter. The stock was up $19.13 to $118.94.

HEALTHY RESULTS: UnitedHealth Group climbed 5.6 percent after its profit swelled 23 percent to nearly $2 billion in the third quarter. The nation’s largest health insurer also increased its 2016 earnings forecast. The stock rose $7.47 to $141.60.

OUTLOOK MISS: IBM slumped 4 percent a day after issuing a full-year earnings outlook that fell short of what analysts were expecting. The stock slid $6.12 to $148.65.