U.S. stocks going strong due to corporate earnings

Affected by Morgan Stanley and Apple earnings, U.S. stocks to open higher Wednesday. Investors await Fed Chairman Ben Bernanke in congressional testimony.

EST at 09:35 on the July 21, the Dow Jones industrial average rose 18.55 to 10,248.51 points, or 0.18%; the Nasdaq composite index rose 6.16 to 2,228.65 points, or 0.28%; Standard & Poor’s 500 index rose 4.05 to 1,087.53 points, or 0.37%.

Some better than expected earnings increased investor confidence. U.S. investment bank Morgan Stanley (MS) said second-quarter profit and revenue surge.

United Technologies (UTX) second-quarter net profit rose 14%, Coca-Cola (KO)-quarter profit increased 16%.

Mining giant Freeport-McMoRan Copper & Gold-quarter profit and revenue growth have emerged.

Wells Fargo (WFC) reported second-quarter net profit fell 3%, the stock was up 5% premarket.

EBay (EBAY) and Starbucks (SBX) will release earnings after the close today.

In addition to earnings, the Wednesday market will soon focus Bernanke at 2 pm EST (GMT 2:00) in the U.S. Senate Banking Committee on monetary policy made by the testimony.

City Index market analyst Nick Serff said in a research report, “The market will pay close attention to his speech, the recent economic data is weak, Bernanke hinted the Federal Reserve will adopt a more accommodative monetary policy? Let us wait and see. ”

Deutsche Bank analysts said investors would “listen carefully to his speech to determine whether the U.S. economy may fall into the second recession.”