Economic news

U.S. stocks inch up at open on strong earnings

U.S. major stock indexes edged up in morning deals on Monday as strong corporate results and a flurry of merger deals supported sentiment, starting an important week for core prices watchers.

Photo: Reuters

The Dow Jones Industrial Average climbed 0.41 percent to 24,410.41. The S&P 500 ticked up 0.19 percent, to 2,675.05. The Nasdaq Composite advanced 0.20 percent, to 7,133.95.

Sprint Corp. shares dropped 13.1 percent following announcement of a $26 billion agreement between carrier and T-Mobile US Inc.

Shares in Walmart Inc surged 2.5 percent after the U.S. retail giant agreed to sell its UK unit, Asda, for 7.3 billion pounds to Sainsbury.

Shares of McDonald’s Corp. jumped 5 percent, after reporting net income for the first quarter increased to $1.38 billion.

WPP PLC soared 6.2 percent following better than predicted sales.

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