NEW YORK (AP) — Stocks are opening higher on strong earnings reports from Ford and 3M.
Before the market opened Tuesday, Ford Motor Co. reported its best first quarter earnings since 1998. The automaker beat Wall Street’s earnings estimates with stronger sales of new vehicles.
3M Co. said its quarterly profit jumped 16 percent from a year ago, beating analysts’ estimates. 3M raised its full-year earnings expectations despite taking a hit from the earthquake in Japan.
The Dow Jones industrial average is up 22 points, or 0.2 percent, at 12,504. The S&P 500 index is up 5 points, or 0.4 percent, at 1,339. The Nasdaq composite is up 6 points, or 0.2 percent, at 2,832.
Weak earnings reports dragged the Dow and S&P 500 lower on Monday.
