US stocks traded higher on Monday as Wall Street digested a batch of generally positive earnings reports.
The Dow Jones Industrial Average rose 91.60 points, or 0.50 per cent, to 18,237.31, Xinhua news agency reported.
The S&P 500 gained 9.92 points, or 0.46 per cent, to 2,151.08. The Nasdaq Composite Index increased 45.56 points, or 0.87 per cent, to 5,302.96.
Shares of T-Mobile surged over 7 per cent around mid-day on Monday after the company posted better-than-expected quarterly results.
The US wireless carrier announced Monday net income of $366 million, or 42 cents per share, for the third quarter of 2016, compared with $138 million, or 15 cents a share during the same quarter last year.
The latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the third quarter of 2016 are expected to rise 1.1 per cent year on year, while the revenues are forecast to increase 2.5 per cent.
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US economic data also came out positive. Adjusted for seasonal influences, the Markit Flash
US Manufacturing Purchasing Managers' Index rebounded from a three-month low of 51.5 in September to 53.2 in October, beating market consensus of 51.2.
On Friday, US stocks closed mixed after wavering in a tight range, as investors digested remarks from the US Federal Reserve official amid corporate earnings reports.
--IANS
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