Wall Street opens higher, following gains in overseas stocks

Disney rose after reporting earnings that, despite being down sharply from a year earlier because of coronavirus shutdowns, still managed to beat the forecasts of Wall Street analysts. Financial companies were doing particularly well. Prudential Financial climbed after reporting better-than-expected results in its latest quarter.

Stocks are opening solidly higher on Wall Street, following up on gains in overseas markets. The S&P 500 climbed another 0.5 per cent in early trading Wednesday. Treasury yields and small-company stocks rose, both signals that pessimism about the prospects for the economy may be diminishing.

Prices for crude oil and gold also rose. Disney rose after reporting earnings that, despite being down sharply from a year earlier because of coronavirus shutdowns, still managed to beat the forecasts of Wall Street analysts. Financial companies were doing particularly well. Prudential Financial climbed after reporting better-than-expected results in its latest quarter.

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