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Strong Apple earnings push US stocks higher

AFP
The Dow and S&P 500 notched fresh records Thursday on strong US economic data and a jump in oil company shares

Apple's strong earnings helped push US stocks higher in opening trade Tuesday, offsetting the impact of third quarter profit drops from Coca-Cola and McDonald's.

Five minutes into trade, the Dow Jones Industrial Average stood at 16,474.39, up 74.72 points (0.46 percent).

The broad-based S&P 500 jumped 16.02 (0.84 percent) to 1,920.03, while the tech-rich Nasdaq Composite Index gained 48.70 (1.13 percent) to 4,364.77.

Apple, the biggest US company by market capitalization, vaulted 3.1 percent as fourth-quarter profits jumped 13 percent to $8.5 billion on strong iPhone sales.