New York stocks opened higher as Apple and Amazon released solid results.
As of 10:12 a.m. on the 31st (local time), on the New York Stock Exchange, the Dow Jones Industrial Average was up 2.73 points, or 0.01%, at 47,524.85. The Standard & Poor's (S&P) 500 index was up 29.05 points, or 0.43%, at 6,851.39, and the Nasdaq composite was up 206.49 points, or 0.88%, at 23,787.63.
It appears to have been influenced by Apple and Amazon, considered leading U.S. tech stocks, which released solid results after the market closed the previous day.
Amazon, helped by strength in its cloud institutional sector in the third quarter of this year, reported adjusted earnings per share (EPS) and revenue of $1.95 and $180.17 billion, respectively, beating market expectations of $1.57 and $177.8 billion. Amazon shares jumped more than 11% on the day.
IPhone maker Apple posted a record high revenue of $102.5 billion in the third quarter. EPS was $1.85, also beating the market expectation of $1.77.
Among the seven major tech companies known as the "Magnificent 7" (M7), only Nvidia has earnings yet to be released.