Adobe Systems by strong earnings and a number of mergers and acquisitions news, U.S. stocks opened higher on Tuesday.
At 09:36 on December 21 EST, the Dow Jones industrial average rose 32.93 points to 11,511.06 points, or 0.29%; the Nasdaq composite index rose 7.72 points to 2,657.28 points, or 0.29%; the S & P 500 Index rose 3.75 points to 1,250.83 points, or 0.30%.
Institutional investors, chief market economist at Avalon Partners Peter - Cardillo (Peter Cardillo), said, "Adobe's earnings brings surprises from the perspective of the valuation of listed companies, the market a bit overvalued."
Adobe (ADBE) rose 6.2%, due to strong demand for software products, the company said late Monday reported fourth-quarter results exceeded Wall Street expectations.
M & A news also stimulate the market to rise. Martek Biosciences (MATK) surged 34.9%. The company accepted the Dutch Life Sciences and Materials Sciences Group, Royal DSM NV $ 31.50 per share, totaling 1.09 billion takeover bid.
Canada Dominion Bank (TD) rose 2%, the company said it would 6.3 billion in cash from the hands of private equity group Cerberus acquisition of Chrysler Financial.
Jabil Circuit (JBL) announced adjusted earnings per share results exceeded market expectations.
Nike (NKE) and Red Hat (RHT) will report earnings after the close Tuesday.
Cardillo said investors obviously not affected by Moody's Investors Service's warning message, Moody's warned that Portugal may be one or two bond rating downgrade. European stock market has not affected by this news, European shares opened higher on Tuesday after rising trend has been maintained so far.
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