U.S. Stocks Respond To Good Earnings Report (BAC, CAT, AA, IBM, KO, JNJ)

U.S. stocks opened higher today. The Dow Jones Industrial Average jumped by 0.3% to 11,123 in early trading. Bank of America (NYSE: BAC) performed well by gaining 2.1%. Other top performers included Caterpillar (NYSE: CAT) and Alcoa (NYSE: AA), which gained 1.8% and 1.4% respectively. The surge was fuelled by good earnings reports issued by various companies. However, International Business Machine (NYSE: IBM) declined by 2.3% despite announcing a 13% rise in its quarterly profits.

Coca-Cola (NYSE: KO) also declined by 0.7% due to a drop in its North America sales. Johnson & Johnson (NYSE: JNJ) also slipped marginally. The company had announced a 29% increase in its earnings. The Nasdaq Composite and The S&P 500 index have also recorded marginal gains.