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New York - Energy equities helped lift US stocks in early trade on Thursday after Alcoa opened earnings season with a mixed report.
About 30 minutes into trade, the Dow Jones Industrial Average was at 17 921.34, up 18.83 points (0.11%).
The broad-based S&P 500 rose 2.29 (0.11%) to 2 084.19, while the tech-rich Nasdaq Composite Index advanced 10.68 (0.22%) to 4 961.50.
Devon Energy rose 2.2% and Marathon Oil jumped 2% as US oil prices opened higher. Many analysts also expect more consolidation in the energy industry on the heels of Royal Dutch Shell's acquisition of BG Group.
Alcoa, the first large industrial company to report for the first quarter, fell 4.6 even as earnings rebounded to $195m compared with a $178m loss in the year-ago period.
But the metals giant said it was studying whether to shut additional smelters and refineries. Previous closures of older assets have led to large charges.
Social gaming company Zynga slumped 13.3% on news co-founder Mark Pincus would return as top executive, less than two years after being replaced. The move comes on the heels of financial losses the last two years.
Walgreens Boots Alliance rose 2.8% as the drugstore chain reported second-quarter earnings of $1.18 per share, easily topping analyst forecasts for 95 cents per share. The company plans to shut about 200 stores in the US.
Semiconductor company Altera fell 4.9% after CNBC reported that Intel has ended talks to buy the company. Intel fell 0.7%.
Career social network LinkedIn shed 0.8% on news it will buy the online learning site lynda.com, which offers language training and other courses to governments, companies and individuals.
Bond prices fell. The yield on the 10-year US Treasury rose to 1.91% from 1.90% Wednesday, while the 30-year advanced to 2.54%from 2.53%. Bond yields and prices move inversely.
