US stock market opens higher with strong earnings

NEW YORK (AA) - Wall Street opened higher Tuesday with strong third quarter earnings posted by major American companies Monday.

The Dow Jones added 105 points to open at 18,192. The S&P 500 was up 16 points to 2,142 and the Nasdaq began the day at 5,253 with an increase of 53 points.

Streaming entertainment firm Netflix announced Monday that its revenue increased by 31.6 percent in the third quarter this year, from the same period a year ago. The company’s net income rose 75.2 percent during the same period.

Bank of America (BofA) said Monday that its revenue saw a 3 percent increase during the same period, while net income was up 7.3 percent.

With the first bell in Wall Street, Netflix stock value jumped 19 percent to $118.75 a share, while BofA stocks increased 1.3 percent to $16.27 per share.