Stock market today: Wall Street opens higher, edging back toward records

Stock market today: Wall Street opens higher, edging back toward records

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NEW YORK (AP) — Stocks are opening higher on Wall Street. The S&P 500 rose 0.3% early Tuesday, following a lackluster performance that saw it move further away from its all-time high set last week. The Dow Jones Industrial Average rose 48 points and the Nasdaq composite rose 0.5%. Krispy Kreme soared 20% after announcing a deal that will see McDonald's restaurants sell its donuts nationwide by the end of 2026. Trump Media & Technology Group jumped 32%. It's the company's first day of trading under its new symbol, DJT, which are the initials of former President Donald Trump.

THIS IS A BREAKING NEWS UPDATE. AP's previous story follows below.

Wall Street pointed higher in early trading Tuesday, with a thin slate of earnings and economic indicators available during a holiday-shortened week.

Dow futures rose 0.2% before the bell on Tuesday, while S&P 500 futures rose 0.4%.

Aside from a handful of notable corporate earnings reports, investors will focus their attention on the latest reading on U.S. consumer confidence on Tuesday, followed by a report on consumer spending on Friday that contains a measure of inflation that is closely watched. closely by Federal Reserve officials.

After standing still for a fifth straight meeting last week, most analysts are still betting on three rate cuts from the Federal Reserve this year, as long as inflation continues to moderate.

Despite a series of recent reports that showed inflation remains higher than expected, the Federal Reserve appears to expect inflation to continue its long-term cooling trend.

Economists expect inflation as measured by personal consumption expenditures, or PCE, to rise modestly in February.

UPS rose about 2% in the premarket period after the package delivery company issued a forecast that pleased investors. Ahead of its investor conference on Tuesday, Atlanta-based UPS projected 2026 revenue between $108 billion and $114 billion.

Krispy Kreme jumped more than 20% after the donut chain announced an expanded partnership with McDonald's. Krispy Kreme donuts will be on the shelves of some McDonald's starting in the second half of this year, and will be available nationwide in late 2026.

Later Tuesday, original meme stock GameStop, the video game retailer, reports earnings. Cruise operator Carnival will report results on Wednesday, followed by pharmacy chain Walgreen's on Thursday. US markets are closed for Good Friday.

In Europe at midday, France's CAC 40 rose almost 0.3%, while Germany's DAX added 0.7% and Britain's FTSE 100 rose just 0.1%.

In Asia, the Japanese benchmark Nikkei 225 index, where computer chip issues had interested investors from the start, reversed course and was little changed, falling less than 0.1% to finish at 40,398.03. .

Australia's S&P/ASX 200 fell 0.4% to 7,780.20. South Korea's Kospi added 0.7% to 2,757.09. Hong Kong's Hang Seng rose 0.9% to 16,618.32, while the Shanghai Composite added 0.2% to 3,031.48.

Analysts have been watching several global uncertainties, including those in the Middle East and Russia, affecting energy prices and investor sentiment.

The Islamic State group claimed responsibility for an attack late last week on a concert hall in Moscow. Gaza was in the spotlight when the UN Security Council issued its first ceasefire demand. The United States abstained, angering Israel.

“Potential increases in oil prices due to geopolitical tensions were still present,” said Mizuho Bank's Tan Jing Yi.

Energy markets have been steady so far, with U.S. crude rising 11 cents to $82.06 a barrel. Brent crude, the international standard, added 5 cents to $86.13 a barrel.

In currency trading, the US dollar rose to 151.44 Japanese yen from 151.41 yen. The euro cost $1.0854, down from $1.0840.

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