10/24/2022, 3:33 PM (Source: TeleTrader)
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US markets open mostly higher amid earnings releases

Major US stock markets opened mostly higher Monday ahead of the release of more earnings reports and the publication of new economic data. During this week, major technology companies such as Alphabet, Microsoft, Meta, Apple, and Amazon are scheduled to present their quarterly reports.

Also, market participants are poised to receive essential data on composite PMI. Despite the prevailing fear among some market participants about a possible recession, stocks have been rallying since last week, driven by previous reports that some Fed officials are concerned about overtightening with considerable rate hikes.

The Dow Jones gained 186 points or 0.58% at 9:30 am ET, with Amgen rising 1.60%. The Nasdaq 100 was flat, as Pinduoduo decreased by 21.30%. The S&P 500 rose 0.37%, while At&T edged up by 2.51%. The euro was down by 0.27% against the dollar at 9:28 am ET, selling for $0.98370.

Baha Breaking News (BBN) / JG