US open: Stocks higher going into MLK Day long weekend

(Sharecast News) - Wall Street stocks were in the green early on Friday as traders prepped for a three-day break. As of 1530 GMT, the Dow Jones Industrial Average was up 0.75% at 43,475.85, while the S&P 500 advanced 0.85% to 5,987.68 and the Nasdaq Composite came out the gate 1.25% firmer at 19,580.08.

The Dow opened 322.72 points higher on Friday, more than reversing losses recorded in the previous session as Q4 earnings season began to pick up steam.

Stocks were in green at the open as softer-than-expected consumer and producer price indexes showed that inflationary pressures appeared to be easing somewhat, while solid earnings from a number of that nation's biggest banks also gave major indices a boost.

Market participants were also looking ahead to next week, with trading halted on Monday in observance of Martin Luther King Jr. Day. Donald Trump will also take the oath of office and be inaugurated as president for the second time on Monday.

On the macro front, building permits decreased by 0.7% month-on-month in December to a seasonally adjusted rate of 1.48m, according to the Census Bureau, while housing starts surged 15.8% to 1.49m, the biggest jump since March 2021.

Elsewhere on the data front, US industrial production increased 0.5% month-on-month in December, according to the Federal Reserve, the first gain in six months, following an upwardly revised 0.6% drop in November.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $21.21 7.83% Walgreens Boots Alliance, Inc. (WBA) $13.18 1.94% McDonald's Corp. (MCD) $283.55 1.36% Salesforce.Com Inc. (CRM) $324.29 1.34% Boeing Co. (BA) $171.15 1.31% Verizon Communications Inc. (VZ) $38.83 1.26% Cisco Systems Inc. (CSCO) $60.53 1.18% Amgen Inc. (AMGN) $272.51 1.14% Microsoft Corp. (MSFT) $429.05 1.05% Apple Inc. (AAPL) $230.63 1.04%

Dow Jones - Fallers

Merck & Co. Inc. (MRK) $100.17 -0.53% JP Morgan Chase & Co. (JPM) $253.73 -0.21% Johnson & Johnson (JNJ) $147.53 -0.16% Dowdupont Inc. (DWDP) $0.00 0.00% Home Depot Inc. (HD) $409.97 0.16% Coca-Cola Co. (KO) $62.35 0.17% Walmart Inc. (WMT) $91.47 0.19% Nike Inc. (NKE) $71.28 0.24% Visa Inc. (V) $318.20 0.30% Chevron Corp. (CVX) $159.89 0.32%

S&P 500 - Risers

Qorvo, Inc. (QRVO) $82.43 12.01% Intel Corp. (INTC) $21.21 7.83% Schlumberger Ltd. (SLB) $43.96 6.98% Truist Financial Corp. (TFC) $47.13 4.78% Halliburton Co. (HAL) $30.27 3.43% Advance Auto Parts (AAP) $47.12 3.04% Royal Caribbean Cr (RCL) $240.25 2.99% Albemarle Corp. (ALB) $96.92 2.76% Skyworks Solutions Inc. (SWKS) $93.89 2.68% Nvidia Corp. (NVDA) $137.01 2.58%

S&P 500 - Fallers

J.B. Hunt Transport Services Inc. (JBHT) $172.56 -7.33% State Street Corp. (STT) $97.56 -2.92% NRG Energy Inc. (NRG) $103.80 -2.08% Eli Lilly and Company (LLY) $746.22 -1.50% Genuine Parts Co. (GPC) $117.88 -1.29% Regions Financial Corp. (RF) $24.20 -1.28% McKesson Corp. (MCK) $588.62 -1.10% Baxter International Inc. (BAX) $30.62 -1.07% Estee Lauder Co. Inc. (EL) $77.24 -1.06% Union Pacific Corp. (UNP) $232.55 -0.99%

Nasdaq 100 - Risers

JD.com, Inc. (JD) $38.77 9.46% Intel Corp. (INTC) $21.21 7.83% Trip.com Group Limited (TCOM) $68.22 3.66% Tesla Inc (TSLA) $428.74 3.60% Baidu Inc. (BIDU) $83.32 3.21% Skyworks Solutions Inc. (SWKS) $93.89 2.68% Nvidia Corp. (NVDA) $137.01 2.58% Paypal Holdings Inc (PYPL) $91.10 2.45% Microchip Technology Inc. (MCHP) $57.43 2.21% eBay Inc. (EBAY) $66.40 2.07%

Nasdaq 100 - Fallers

J.B. Hunt Transport Services Inc. (JBHT) $172.56 -7.33% Idexx Laboratories Inc. (IDXX) $425.43 -0.74% CSX Corp. (CSX) $32.78 -0.58% Hasbro Inc (HAS) $57.47 -0.47% NetEase Inc. Ads (NTES) $98.90 -0.41% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $412.71 -0.15% Fastenal Co. (FAST) $74.69 -0.10% Cognizant Technology Solutions Corp. (CTSH) $77.38 -0.06% Intuit Inc. (INTU) $606.93 -0.06% Monster Beverage Corp (MNST) $49.63 -0.04%