NEW YORK, Aug. 1 (Xinhua) -- U.S. stocks opened higher on Tuesday, the first trading day of the month on a slew of strong corporate earnings.
This earning season has been robust so far. The latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the second quarter of 2017 are expected to rise 10.8 percent year on year, while revenues are forecast to increase 4.9 percent.
Dow notched a record high on Monday and was poised for a fresh record Tuesday amid upbeat earnings, but some analysts said the tech sector might continue to face pressure from profit-taking.
Tech giant Apple is set to report quarterly earnings later Tuesday.
On the economic front, U.S. personal income decreased less than 0.1 percent in June, below an expected 0.3 percent increase, according to the Commerce Department Tuesday.
In June, personal consumption expenditures (PCE) increased 8.1 billion dollars, or 0.1 percent.
Shortly after the opening bell, the Dow Jones Industrial Average was up 63.74 points, or 0.29 percent, to 21,954.86. The S&P 500 rose 4.95 points, or 0.20 percent, to 2,475.25. The Nasdaq Composite Index gained 16.34 points, or 0.26 percent, to 6,364.47. Enditem
